/prepareschema worked fine
The problem is with /prepared and in the MSExchangeManagement Log I find these entries (event 6):
Cmdlet failed. Cmdlet Remove-ServiceEndpoint, parameters -DomainController "dc1.mydomain.local" -Identity "Windows Live Calendar".
Cmdlet failed. Cmdlet initialize-DomainPermissions, parameters -CreateTenantRoot "False" -CreateMsoSyncRoot "False" -IsManagementForest "False".
Cmdlet failed. Cmdlet Install-ExchangeOrganization, parameters -DomainController "dc1.mydomain.local" -OrganizationName "First Organization" -PrepareOrganization "True" -Industry "NotSpecified" -ActiveDirectorySplitPermissions $null -PrepareDomain "True".
This is also strange:
Microsoft.Exchange.Configuration.Tasks.ManagementObjectNotFoundException: The operation couldn't be performed because object 'Windows Live Calendar' couldn't be found on 'DC1.mydomain.local'.
BTW: Installation from Exchange 2016 CU18 to CU20 instead of 21 is successful