I am having this problem on a Windows 2008 std x64 server. The software will install fine on a different server. I had a coworker install on this server with the same error. I have checked these items:
Authenticate as any user and gain access to resources under any user identity OR "Act as a part of Operating System"
Create a token object, which can then be used to access any local resources
Log on as a service
Administrative rights (provides complete and unrestricted rights to the computer)
Backup operator rights (by default includes Logon Locally, Back up Files and Directories, Restore Files and Directories, etc. Refer to Microsoft Documentation for a listing of all rights that the Backup Operator Group has by default.)