Installation error 1603 is very generic and there could be several causes why it happens as a quick search on the net reveals (see, for example here
The good thing is, that you've already done the next step and got the installation logs. Thanks.
The logs say that "Could not set file security for file 'C:\ProgramData\'." So that's where the problem seem to be. Please try running the installer with the 'Run as administrator' option. This migt be necessary even if the user is a local admin. Additionally, check that any GPO settings don't interfere and impose the restriction that prevents the installation.
An older version of LOGbinder would not help. The latest version should be able to install. We have made many improvements
in the past releases, we would not like to revert back to those already solved issues. Please use the latest installer
Let us know how it goes after double-checking the permissions, using the 'Run as administrator' option and ensuring that no GPO setting poses restrictions on the installation process.