Your client does not support opening this list with Windows Explorer – on Windows 7 with IE 10

Since upgrading to Internet Explorer 10 on Windows 7 I have not been able to open SharePoint document libraries with Windows Explorer, instead I receive this error message:

Your client does not support opening this list with Windows Explorer

I have previously seen and fixed this on Windows 2008 Server R2 but this is the first time it’s happened on Windows 7.  At first I was not able to resolve it but have since discovered that Microsoft have released a hotfix that made the problem go away.  Download it here (requires a restart).