BUG #7985: Postgres Windows Installer fails with "permission denied"

The following bug has been logged on the website:

Bug reference: 7985
Logged by: hassib
Email address: hkhanafe(at)hotmail(dot)com
PostgreSQL version: 9.2.2
Operating system: Windows 7
Description:

We are facing an issue with Postgres Windows installer (version 9.2.2).

In some machines we find that the installer works, in other machines it
fails and
when checking the logs, we find that the script "initcluster" failed.

We are installing Postgres in the default directory (i.e. c:\program files
(x86)\PostgreSQL), and
the data directory under "c:\ProgramData".

After long hours of debugging in the machines where it fails we found the
problem in the following
line of the scripts "strInitdbPass = strInstallDir & "\" &
objFso.GetTempName", which is actually
trying to save the password file under the installation directory (i.e.
c:\program files (x86)\PostgreSQL)
, which failed with "Permission denied" error, when changing this line to
point to another directory
the script worked.

We tried to run the installer as "Local Administrator", but that also didn't
fix the issue.

What would be the solution for this issue?