VMware-tools failed to install

Error Shown:
"There was a problem updating a software component. Try again later and if the problem persists, contact VMWare support or your system administrator"

This issue is being caused by the realtime protection of your antivirus (McAfee in my case). Since we're on a corporate network, I'm not allowed to disable this protection.
However the following workaround seems to be working for me:

  • Suspend Bitlocker protection on your system drive.
  • Run msconfig, open boot tab, under boot options choose safe boot with the network radio button ticked.
  • Reboot into safe mode.
  • Open VMWare workstation, Edit > Preferences > Updates, and Download all Components Now. This should now work and update vmware tools as expected.
  • Run msconfig, open boot tab, clear the safe boot options.
  • Reboot into "normal" windows, Bitlocker should re-enable automatically.