If you are getting these errors after updating your ESP32-IDF toolchain:

The following Python requirements are not satisfied:
future>=0.16.0
cryptography
Please run "C:/msys32/mingw32/bin/python.exe -m pip install --user -r C:/msys32/home/Alex/esp/esp-idf/requirements.txt" for resolving the issue.

There is a suggestion from the forums:

Grab the updated copy of the MSYS2 from this link: https://docs.espressif.com/projects/esp-idf/en/latest/get-started/windows-setup.html#toolchain-setup