vscode-python: numpy: DLL load failed when running a .py from vscode

Environment data

• VS Code version: 1.41.1
• Extension version (available under the Extensions sidebar): 2020.1.58038
• OS and version: Windows 10 1809 64 bit
• Python version (& distribution if applicable, e.g. Anaconda): Anaconda 2019.10 (Python 3.7.4, conda 4.8.1)
• Type of virtual environment used (N/A | venv | virtualenv | conda | …): conda
• Relevant/affected Python packages and their versions: numpy, pandas, matplotlib
• Jedi or Language Server? (i.e. what is "python.jediEnabled" set to; more info #3977): true

Expected behaviour

No errors appear. Script is executed successfully.

Actual behaviour

Getting the following error:

Traceback (most recent call last):
  File "o:/cloud/documents/test/test.py", line 3, in <module>
    import pandas as pd
  File "C:\Users\<username>\Anaconda3\lib\site-packages\pandas\__init__.py", line 17, in <module>
    "Unable to import required dependencies:\n" + "\n".join(missing_dependencies)
ImportError: Unable to import required dependencies:
numpy: DLL load failed: The specified module could not be found.

Steps to reproduce:

[NOTE: Self-contained, minimal reproducing code samples are extremely helpful and will expedite addressing your issue]

1. Set "python.pythonPath" to "C:\\Users\\<username>\\Anaconda3\\python.exe" in VSCode settings.
2. Run this script from VSCode by pressing the play button:

import pandas as pd

Logs

Output for Python in the Output panel (View→Output, change the drop-down the upper-right of the Output panel to Python)

XXX

Output from Console under the Developer Tools panel (toggle Developer Tools on under Help; turn on source maps to make any tracebacks be useful by running Enable source map support for extension debugging)

console.ts:137 [Extension Host] Info Python Extension: 2020-02-01 20:28:51: cwd: o:\cloud\documents\test
console.ts:137 [Extension Host] Info Python Extension: 2020-02-01 20:28:51: > ~\Anaconda3\python.exe -m pylint --disable=all --enable=F,unreachable,duplicate-key,unnecessary-semicolon,global-variable-not-assigned,unused-variable,unused-wildcard-import,binary-op-exception,bad-format-string,anomalous-backslash-in-string,bad-open-mode,E0001,E0011,E0012,E0100,E0101,E0102,E0103,E0104,E0105,E0107,E0108,E0110,E0111,E0112,E0113,E0114,E0115,E0116,E0117,E0118,E0202,E0203,E0211,E0213,E0236,E0237,E0238,E0239,E0240,E0241,E0301,E0302,E0303,E0401,E0402,E0601,E0602,E0603,E0604,E0611,E0632,E0633,E0701,E0702,E0703,E0704,E0710,E0711,E0712,E1003,E1101,E1102,E1111,E1120,E1121,E1123,E1124,E1125,E1126,E1127,E1128,E1129,E1130,E1131,E1132,E1133,E1134,E1135,E1136,E1137,E1138,E1139,E1200,E1201,E1205,E1206,E1300,E1301,E1302,E1303,E1304,E1305,E1306,E1310,E1700,E1701 --msg-template='{line},{column},{category},{symbol}:{msg}' --reports=n --output-format=text o:\cloud\documents\test\test.py
console.ts:137 [Extension Host] Info Python Extension: 2020-02-01 20:28:51: cwd: o:\cloud\documents\test
console.ts:137 [Extension Host] Info Python Extension: 2020-02-01 20:29:29: Cached data exists getEnvironmentVariables, Untitled-1

Things to note:

1. The DLL load failed error is not in red, so it’s not necessarily a system error.

2. Pressing the Play button for the first time with the aforementioned script triggers the following error (in red) when VSCode tries to execute the conda activate base command:

conda : The term 'conda' is not recognized as the name of a cmdlet, function, script file, or operable program. Check the spelling of the name, or if a path was included, verify that the path is correct and try 
again.
At line:1 char:1
+ conda activate base
+ ~~~~~
    + CategoryInfo          : ObjectNotFound: (conda:String) [], CommandNotFoundException
    + FullyQualifiedErrorId : CommandNotFoundException

However, VSCode executes the following command immediately after: PS C:\Users\<username>> & C:/Users/<username>/Anaconda3/python.exe o:/cloud/documents/test/test.py which is when I get the DLL load failed error (again, not in red).

1. Pressing the Play button for the first time with a different script (print("Hello World")) still triggers the term is not recognized error (in red) when VSCode tries to execute the conda activate base command. But the PS C:\Users\<username>> & C:/Users/<username>/Anaconda3/python.exe o:/cloud/documents/test/test.py command gets executed (by VSCode) successfully and prints out "Hello world".

2. All scripts (including ones with numpy imports) run just fine from Anaconda prompt.