In VS Code, I'm getting this error, 'Failed to load module. Attempted to load prettier from package.json'

When I'm using VS Code and open up a project, I get this notification in the bottom right corner:

Failed to load module. If you have prettier or plugins referenced in package.json, ensure you have runnpm installAttempted to load prettier from package.json.

Source: Prettier Code Format (Extension)

Running npm install doesn't resolve this. Anyone have any idea why that is or what I can do to fix it?