How do I set up LastPass Workstation MFA for Windows?

Workstation MFA is a feature that allows LastPass admins to protect their users' workstations with a second layer of security. Once set up, users can log in to their workstations locally or via Remote Desktop Protocol (RDP) using their Windows account password, then an authentication prompt is sent to their mobile device via the LastPass Authenticator or YubiKey for verification. Once authenticated, they are signed in to their Windows workstation.

Note: This feature requires an account with the LastPass Business + Advanced MFA add-on. How do I upgrade my LastPass Business account with an add-on?
Attention: In order to use this feature, users must be provisioned via the LastPass AD Connector.