After upgrade to Configuration Manager 2211, MicrosoftPolicyPlatformSetup.msi won't install

After upgrading to Configuration Manager 2211, manual client installations invoked from <servername>\c$\Microsoft Configuration Manager\Client\CCMSetup.exe fail at the point of installing the Microsoft Policy Platform.

The Application log shows event 11708, "Product: Microsoft Policy Platform -- Installation failed."

CCMSetup.log shows "File C:\WINDOWS\ccmsetup\MicrosoftPolicyPlatformSetup.msi installation failed. Error text: ExitCode: 1603"

I've tried manually installing MicrosoftPolicyPlatformSetup.msi by transferring it to a client PC and double-clicking it.  It shows a GUI during installation, but rolls back the installation and fails with the same error codes.

To work around the issue, I've used a copy of MicrosoftPolicyPlatformSetup.msi from a client installation performed when using Configuration Manager 2207 to install the Microsoft Policy Platform and then run CCMSetup.exe thereafter.

Is there a known issue with the MicrosoftPolicyPlatformSetup.msi that is provided with Configuration Manager 2211?  How can that issue be resolved?  Can I just copy the "good" MicrosoftPolicyPlatformSetup.msi to the x64 subfolder of the C:\Microsoft Configuration Manager\Client folder on the site server?