This bug appears to be fixed by commit 25a1f67. I'm creating this issue in case anyone else encounters it before the next version of the package is released.
After the release of version 0.4.2, commit 229aad9 introduced a new dependence on packaging in base.py. However, this dependency was not included in setup.py until after the release of 0.4.3 with commit 25a1f67; clean installs or upgrades in environments without packaging installed will fail on import.
This bug can be temporarily fixed by manually installing packaging or explicitly adding it to a list of dependencies.