If you have installed the Web Server (IIS) Role as a required prerequisite of App-V 5, but are still getting the following error on the Check Prerequisites page of the App-V 5 setup:
Required Web Server Role Services not installed
Needed to install Management Server
Clicking on the dropdown arrow on the error, gives the following additional information:
The Management Server requires that the following additional Windows Server Web Server Role Services be installed on the computer. Security – Windows Authentication
Then you can fix this by installing the Security -> Windows Authentication Role Service of the Web Server (IIS) role.