The following is entirely anecdotal and may not work in every situation.
If you ran into a 65535 error while trying to run Visual Studio with Administrative privileges for the first time, you might run into this answer on Microsoft Community. However upon trying to open command prompt with elevated privileges, you might see the same error again. You might think you are in a bind, a catch-22 of sorts. I too thought I was in a similar position.
The next thing I tried was to remove the computer from the dock (if you are connected to corporate LAN via Wi-Fi, you might want to disconnect that as well). Then, try running Visual Studio again. I hope it works for you. It did for me. If it doesn't work, try rebooting while disconnected from the network. If that doesn't help, you might have to reboot into safe mode.