Solidworks PDM Client 2024 installation fails with error message:

The installation manager failed to register bomsource.dll

"C:\\WINDOWS\\SYSWOW64\\regsvr32.exe /s "C:\\program files (x86)\\solidworks pdm\\bomsource.dll" returned 0x3

This command fails:

09:35:14    Info    Step    90    0    "{0: Installing} MSI: {1: C:\\Users\\wsa-tm\\Documents\\SOLIDWORKS Downloads\\SOLIDWORKS 2024 SP03.1\\swpdmclient\\SOLIDWORKS PDM Client.msi}; command-line: {2: INSTALLDIR="C:\\Program Files\\SOLIDWORKS\\SOLIDWORKS PDM\\"  PDMTYPE=1 PTID={05AD35C4-8A9A-4114-B51F-32186222ABA1} ADDLOCAL=Shared,PDMType,Shared64,PDMTypeX64,Client,ProductID,Client64,eDrw,InsoViewer,SolidWorks,DraftSight,ItemExplorer   SLDIM=1 MSIFASTINSTALL=4 REBOOT=ReallySuppress TRANSFORMS="C:\\Users\\wsa-tm\\Documents\\SOLIDWORKS Downloads\\SOLIDWORKS 2024 SP03.1\\swpdmclient\\1033.mst" ARPSYSTEMCOMPONENT=1}

I have uninstalled and reinstalled all VC++ redist packages. I have tried admin image, manual installation, installation manager. I have tried to copy the files in place manually to the folder from a known working installation: C:\\Program Files\\SOLIDWORKS\\SOLIDWORKS PDM\\ Nothing works.