CST - Java error on 3DExpericne Launcher installation

I started up the 3DExperience Platform and tried starting up CST Studio Suite. This initiated the installation of the 3DExperience Launcher which prompted me to install Java (JRE, JDK). I installed the latest JDK/JRE for my OS and also set up the environment variables. But the 3DExpericne launcher still shows an error of not being able to detect Java on my system.

Could anyone help me on this?