[Solved] __init__.py”, line 92, in raise RuntimeError(“Python 3.5 or later is required”)

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You need to tell Visual Studio Code which python interpreter to use.

By default, it’s going to use the system python.
In your case, it got the Python 3.4.4 version.

Open the command palette and select Python: Select Interpreter.
Then select the appropriate one from the list:

enter image description here

You can also manually set this by adding this to your workspace’s .vscode/settings.json file:
(or create it if it doesn’t exist yet):

{
    "python.pythonPath": "/path/to/your/python"
}

Then reload the window.

You can check that it’s now using the correct interpreter by looking at the status bar at the bottom and by opening a new terminal:

enter image description here

For more info:

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solved __init__.py”, line 92, in raise RuntimeError(“Python 3.5 or later is required”)