The Oculus Rift forum is full of owners complaining about the problem and have offered a number of possible solutions. The message reads, "Can't Reach Oculus Runtime Service", and notes that the software may be "updating".
Rebooting the Oculus software, or even the PC that it's running on won't fix the issue. This issue is a bummer to gamers that aren't going to get to play the titles they've purchased until the issue is resolved, but it's a much less forgivable issue for commercial users who use the headset. Recently, a "black screen of death" began affecting users, and so far, the finger is being pointed at recent Nvidia driver updates as well as the Windows 10 Fall Creators Update from past year.
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"For security, we use a certificate to ensure that the software you receive actually comes from Oculus", Oculus says.
The current Nvidia driver version is 391.01, so Oculus Rift users facing these issues have to roll back quite far.
We'll be providing an update as soon as we hear from the Oculus team.
For now, there's no timeline on a fix, but Oculus says it will update that support thread as it learns more.