There may be a newer version of the Microsoft Visual C++ 2010 Redistributable Package installed on your computer which is causing the install failure.
A typical workaround is to uinstall Microsoft Visual C++ 2010 Redistributable (x86) via the Control Panel (add / remove programs), reinstall the software, and then install the latest version of Microsoft Visual C++ 2010 Redistributable (x86) from Microsoft (linked here).
For additional 1603 error causes and corresponding solutions, click here.
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