In-progress: Quixel Colours install issue on 3ds Max 2017

Hi all,
I looked at the README.txt in the colours folder of Quixel SUITE 2.0 and followed the instructions for Max, specifically:
 
Utilities -- MAXScript -- Run Script, followed by selecting the MaxRun.ms script to run

Max then returns an error titled "MAXScript Fileln Exeption" with the content of:

-- Runtime error: Traceback (most recently call last):
ImportError: No module named lib

How can I fix this?

Thanks in advance