"pip install gevent" on windows gives IndexError - python-3.x

Question

I'm trying to pip install grequests on Windows 10, but it errors out when it attempts to install gevent.
I'll be grateful for any clues on how to resolve this. (FWIW, I also tried pip --no-cache-dir install gevent, amongst other variants. They all failed the same way - please see below).
# pip3 --version
pip 20.0.2 from c:\users\username\appdata\local\programs\python\python38\lib\site-packages\pip (python 3.8)
# python --version
Python 3.8.1
# pip3 install grequests
Collecting grequests
Using cached grequests-0.4.0-py3-none-any.whl (4.6 kB)Collecting gevent
Using cached gevent-1.4.0.tar.gz (5.2 MB)
ERROR: Command errored out with exit status 1:
command: 'c:\users\username\appdata\local\programs\python\python38\python.exe' -c 'import sys, setuptools, tokenize; sys.argv[0] = '"'"'C:\\Users\\username\\AppData\\Local\\Temp\\pip-install-_nbp9r04\\gevent\\setup.py'"'"'; __file__='"'"'C:\\Users\\username\\AppData\\Local\\Temp\\pip-install-_nbp9r04\\gevent\\setup.py'"'"';f=getattr(tokenize, '"'"'open'"'"', open)(__file__);code=f.read().replace('"'"'\r\n'"'"', '"'"'\n'"'"');f.close();exec(compile(code, __file__, '"'"'exec'"'"'))' egg_info --egg-base 'C:\Users\username\AppData\Local\Temp\pip-install-_nbp9r04\gevent\pip-egg-info'
cwd: C:\Users\username\AppData\Local\Temp\pip-install-_nbp9r04\gevent\
Complete output (113 lines):
Traceback (most recent call last):
File "c:\users\username\appdata\local\programs\python\python38\lib\site-packages\setuptools\msvc.py", line 489, in _find_latest_available_vc_ver
return self.find_available_vc_vers()[-1]
IndexError: list index out of range
During handling of the above exception, another exception occurred: