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I found this one on Supportweb: Permission Error When Installing Siebel 18.104.22.168 Fix Pack [ID 1473422.1]
5. To start the Siebel Enterprise Server installer for version 22.214.171.124, right click on setup.bat and select the "Run as administrator" option
Thanks for your response.
I figured out what the issue was.
The issue was the OUI didn't recognise the entries Oracle BI entries in the vpd.properties file located in c:\windows folder. We had oracle BI installed on the same host hence the vpd.properties file had entries for Oracle BI. When I copied the vpd.properties file. The installation went through after I removed the entries of Oracle BI host.