I would say there are two things to check.
1. Are you using the right license code for what you are installing?
2. Are you installing the right piece first?
Install PeopleTools first and use the PeopleTools MS SQL license code. Then install FSCM 9.2 afterwards using the FSCM MS SQL license code.
I've seen something similar to what you are describing if you were to enter the FSCM code while installing PeopleTools or vice verse.