Jesus Christ! Spent the evening and part of the morning here scratching my head over this problem, had the exact same issue, exact same error msg.
After I downloaded the prbf2_1.5.0.0_full.iso file, I double-clicked on it, and WinZip came up, so I Ctrl-A'd (select all) so as to select all the files in the archive, and extracted everything to a PRSetup folder, extracted with full file paths and all.
I navigated Windows Explorer to this PRSetup folder, and tried to run Setup.exe, I forget what error I got, but then I realized that I had to run autorun.exe instead of the setup.exe file directly.
At that point, I got this:
Kept thinking that somehow my AV was interfering, or that maybe a reboot would fix it, couldn't figure out why I couldn't get this damn thing to work even though I copied all the install files to different drives... always the same error. Guess I got side-tracked with the whole AV **** 'cause that's what got me here in the first place, after the 1.5.something-or-another update, my AV would warn me about the PRLauncher being a possible virus, and then last night, when a msg popped up, I accidentally hit the wrong response button and lost my PRLauncher. The logs showed that it had been quarantined, but when I checked the quarantine, I could find in there everything but my PRLauncher.exe. I then tried grabbing another PRLauncher from a previous (last year) PR on another drive, but that one wouldn't run/launch. Decided that the easiest/fastest way would be to just re-install PR.
Tried with other setup files on those same drives, and everything else would run just fine, only the PR setup was not working. Was thinking about the mysterious \??\Driveletter:\... problem, when all of a sudden, it struck me! It's a goddamned .ISO file FFS!
***Facepalm***
Mounted the prbf2_1.5.0.0_full.iso file to a virtual drive, as I should have at first, instead of trying to unzip all the files to a folder and running the executable(s) from there, and of course, everything worked the charm from there.
So any time someone sees this type of error msg, even with progs. other than PR, it's likely that they are not running the programs from a mounted virtual CD. It had been so long since I'd not mounted a .iso file to a virtual CD in order to run an install, that I'd forgot about this.
Thought I'd throw it in here in case someone else runs into this same problem, as this thread previously described the error, but no solutions had been advanced. This might eventually help someone else, I'm sure this was the issue Kakku was experiencing at the time he was posting this. The next person will have an answer.