Here is the fix from Waldo-E3 elsewhere in this forum.
Kudos to Waldo-E3!
RESOLVED...
Found these steps posted elsewhere by another and the solution worked for me...
1. Go to Windows 8.1 Control Panel.
2. Go to Hardware and Sound; Devices and Printers; Unspecified (look for Apple Mobile Device USB Driver)
3. Right-click, then select properties on the menu list.
4. Select the "Hardware" tab at the top When the properties dialog box opens, once more select properties on the lower right hand button.
5. Under the "Driver" tab menu, the update driver button will be grey and unselectable here. So you need to select and click "Change Settings" button located near the lower left corner.
6. Now you can click the "Driver" tab menu near the top, so you can see the "Update Driver" button.
7. Select "Update Driver".
8. Select and click "Browse my computer for driver software".
9. For Windows 8.1 64 bit, it should be located in the folder: C:\Program Files\Common Files\Apple\Mobile Device Support\Drivers.
10. Click Next, and let the driver re-install.
11. iTunes 11.1.4.62 should open automatically if your iphone is connected already