Just a guess here, try placing the installer onto the C: drive. My guess is you are trying to run it from a network share..
I would suggest you review the ArcMap Life cycle here: https://support.esri.com/en-us/products/arcmap/life-cycle
It will be retiring soon, and I encourage you if you're able to begin migrating to ArcGIS Pro: https://learn.arcgis.com/en/projects/migrate-from-arcmap-to-arcgis-pro/