Found existing installation error

This happens if both the 32-bit and the 64-bit version are installed.

In this case, the easiest solution is to just uninstall the "active" version via Windows Settings → Apps & Features and then run the installer again. If it still complains, you need to install the version with the different architecture.

Deleting the installation files manually (including the uninstaller, which is not recommended) added the extra difficulty in this case.