ProtectedStorage is a dependancy for most applications using .NetFramework in Windows 2012. A simple workaround is to remove the dependancy which will not affect your production application any way unless you have clustering features unabled for this application.
Browse to vCenter installed location in command prompt and run the below commands, also you can do the same by removing it from registry after taking a backup.
C:\Program Files\VMware\Infrastructure\VirtualCenter Server\sc config vpxd depend= “ ”
C:\Program Files\VMware\Infrastructure\VirtualCenter Server\sc vpxd start
After this, you may see, the service may take some time to start, be patient!
Thanks
Ramesh. Geddam