I had a similar problem while installing Labview. It has to do with the configuration of your machine. The machine does not allow for Labview to install the C++ redistributable that it needs. To fix it, you need to do the following.
1. If you have a 64bit operating system, download and install both package 1 & 2. If you only have an 32bit operating system, download only package 1.
Package 1
Package 2
2. Run the installer again, it will still return this error, however, you want to instead continue the installation. It will repeat this message multiple times, so you will need to tell it to continue each time.
3. Labview should now work just fine. I have yet to have any problems with it. Autodesk will also return you a similar error, however it will not let you skip so easily. If you should try to install Autodesk on that computer, feel free to contact me for help.