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https://steamcommunity.com/discussions/forum/search/?gidforum=882959061466924237&include_deleted=1&q=%22LoadLibrary+failed+with+error+126%22
What is your operating system ?
EDIT.................................
Feel free to address the following as you have time.
Open an elevated command prompt in Windows. You must do this by running the CMD as an administrator :
https://www.lifewire.com/how-to-open-an-elevated-command-prompt-2618088
Next, type in sfc/ scannow, hit enter, and let the scan run. This will check the integrity of your Windows system files.
Once the scan finishes, post EXACTLY what the report says about the completion of the scan, from within that same command prompt window.
Have you considered running a disk check on the hard drive(s) for your PC that are related to your Steam installation ? Run disk check for all the drives involved and make sure the drives are healthy.
https://docs.microsoft.com/en-us/windows-server/administration/windows-commands/chkdsk
It's possible the library data has become corrupted somehow, so these would be my suggestions as of now.
Are you using Family Sharing with any of your accounts ?