There was an error locating one of the items needed to complete this operation. It might have been deleted

Cause Of this issue:
This behavior may occur if a service has been removed from the Add Service to Profile dialog box.

When you view the data in the error report, the report contains an error signature that is similar to the following:
AppName AppVer ModName ModVer offset
--------------------------------------------------------------
Outlook.exe 10.0.2627.1 Msmapi32.dll 10.0.2625.0 0001e85d

Resolution :

1.Delete or rename file: Mapisvc.inf in \Windows\System32 folder
2.Delete or rename file: Mapisvc.inf in \Program Files\Common Files\System\MSMAPI\1033 folder (Thanks to Raven Maddox for the correction from my earlier article of \Program Files\Common Files\MSMAPI\1033)
3.Create a new profile again and setup will re-install that file. New profile can be created and Outlook can connect to exchange.

OR

Second Solution :

Second option is uninstall and reinstall Office/Outlook