I found the resolution. For those that are having the same issue:
The desktop shortcut is pointing to an admin shortcut (BlueIrisAdmin.exe). If you change the shortcut to (BlueIris.exe) and run as administrator it should startup just fine.
Did you install the "Desktop Experience" feature. You can find it at Server Manager, then Features? I would also make sure you install Visual C++ Redistributable Packages for Visual Studio 2013. This is a requirement for Blue Iris 4.x.
If you have a 64-bit OS and want to install the 64-bit version of Blue Iris 4, make sure you download and install the 64-bit version of Visual C++ Redistributable Packages for Visual Studio 2013. Otherwise if you have a 32-bit OS or you want to install the 32-bit version of Blue Iris, then download and install the 32-bit version of Visual C++ Redistributable Packages for Visual Studio 2013.