An install error usually has two or three major causes:
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Compatibility with your operating system. It means you have to obtain another installer compatible with your version of Windows installed on your PC.
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File corruption. Just like in the first case, download another version of the PMB Launcher, but avoid using any download accelerators.
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Some installers need to have a certain runtime or framework (C++ Runtime and NET Framework)
Download the PMB Launcher again and try installing while following the instructions above.