OK, I found the problem.

On Windows 11 it appears C:\WINDOWS\system32\Drivers\etc\hosts is marked as read-only, and the installer fails trying to add a view-localhost entry to it. Removing the read-only flag allows the program to install.

For anyone wanting to diagnose installation issue, during the install a file `VMware Horizon View Client (x64).msi` and some .cab files will be saved under `C:\ProgramData\Package Cache\{881E8C1C-858D-47BD-99E1-A40A54A555A6}v8.4.0.24146`.

Copy the files to another folder before the installation fails.

After the install fails, using a command prompt go to that folder, and use the command `"VMware Horizon View Client (x64).msi" /lvx log.txt` to run the install with verbose logging.

The log.txt created file will contain a detailed breakdown of reasons for failures.