I tried to open kernel32.dll
using Dependency Walker on Windows 10. I got the following error and warning:
Error: At least one required implicit or forwarded dependency was not found
Warning: At least one delay-load dependency module was not found.
I'm running Windows 10 32-bit, and the Dependency Walker is also 32-bit. Also, I'm running Dependency Walker as admin.
This has nothing to do with delay loads. These are MS API-sets - essentially, an extra level of call indirection introduced gradually since windows 7. Dependency walker development seemingly halted long before that, and it can't handle API sets properly.
So these are all false negatives and nothing to worry about. You're not missing anything.
Edit: Only in Oct 2017 did someone finally try to fill this gap. Meet Dependencies by lucasg. I've only briefly fiddled with it until now, but it handles API sets well and is at least very worthy of attention.