ColdFusion 2016 in IIS 10: HTTP Error 404.17 - Not Found

I have installed ColdFusion 2016 in IIS 10 and when I browse to http://localhost/mysite/ I get HTTP Error 404.17 - Not Found but when I browse to http://localhost/mysite/index.cfm it works just fine. It seems there is some confusion about the default documents being served as static files rather than dynamic files. This is supported by reading further details in the IIS error message:

HTTP Error 404.17 - Not Found

The requested content appears to be script and will not be served by the static file handler.

It seems that IIS knows that I want to serve index.cfm as the default document, but it's treating it as a static file rather than a dynamic file. Wondering if anyone has any ideas on how to fix this? Thanks.