During upgrading BackupExec to a newer version I stumbled upon the following error:
Visual C++ 2012 Redistributable didn’t install and did show up a strange error in the BE Installation Log.
Running the package manually gave a far better error message:
The cryptographic operation failed due to a local security option setting
There is no direct solution to this problem (at least when you search for it).
The reason why the install fails is because of wrong configurations of the IE Security settings.
This knowledge base article provided the solution: