First, you need to install Visual Studio 2019 community and Microsoft SDK, as well as install Panda3D with C++ support.
Step 1 - set compiler.
Directory compiler C++
C:\Program Files (x86)\Microsoft Visual Studio\2019\Community\VC\Tools\MSVC\14.28.29333\bin\Hostx86\x64
Search directories compiler
C:\Program Files (x86)\Microsoft Visual Studio\2019\Community\VC\Tools\MSVC\14.28.29333\include
C:\Program Files (x86)\Windows Kits\10\Include\10.0.18362.0\shared
C:\Program Files (x86)\Windows Kits\10\Include\10.0.18362.0\ucrt
C:\Program Files (x86)\Windows Kits\10\Include\10.0.18362.0\um
Search directories linker
C:\Program Files (x86)\Microsoft Visual Studio\2019\Community\VC\Tools\MSVC\14.28.29333\lib\onecore\x64
C:\Program Files (x86)\Microsoft Visual Studio\2019\Community\VC\Tools\MSVC\14.28.29333\lib\x64\store
C:\Program Files (x86)\Windows Kits\10\Lib\10.0.18362.0\um\x64
C:\Program Files (x86)\Windows Kits\10\Lib\10.0.18362.0\ucrt\x64
Step 2 - set Panda3D.
Link libraries
libp3framework.lib
libpanda.lib
libpandaexpress.lib
libp3dtool.lib
libp3dtoolconfig.lib
libp3direct.lib
Search directories compiler
D:\Panda3D-1.10.8-x64\include
Search directories linker
D:\Panda3D-1.10.8-x64\lib