2684318 - Unable to create node D:\ with type DIRECTORY: can't create parent node

While running an installation with Software Provisioning Manager (SWPM - 1680045), it fails after a user switch with the error below:

An error occurred while processing option
<i>SAP NetWeaver 7.0 including Enhancement Package 2 > SAP Application Server ABAP > IBM DB2 for Linux, NIX, and Windows > Central System > Central System (Last error reported by the step: Creating node $(DIR_INSTALL) with type DIRECTORY failed.
 Original exception text was: syslib.filesystem.nodeCreationFailed:
Unable to create node D:\ with type DIRECTORY: can't create parent node)</i>. You can now: </p> <ul> <li> Choose <i>Retry</i><br>to repeat the current step.
</li> <li> Choose <i>Log Files</i><br>to get more information about the error. </li> <li> Stop the option and continue later. </li> </ul> <p> Log files are written to C:\Program Files/sapinst_instdir/NW702/AS-ABAP/DB6/CENTRAL/.
</p> </body> </html>

The following entries can be found in sapinst_dev.log:

TRACE[W]   <time stamp> (<sid>adm) (startInstallation) [synxcpath.cpp:1002] id=syslib.filesystem.getVolumeInformationFailed CSyPath::getOSNodeType(bool)
Unable to get information about path <drive>:\ using GetVolumeInformation. Operating system error message: Access is denied.

ERROR      <time stamp> (<sid>adm) (startInstallation) [iaxxbjsmod.cpp:83] id=nw.createNodeFailed errno=CJS-30129
Creating node $(DIR_INSTALL) with type DIRECTORY failed. Original exception text was: syslib.filesystem.nodeCreationFailed:
Unable to create node <drive>:\ with type DIRECTORY: can't create parent node...

Software Provisioning Manager

Windows Server 2012 virtual environment

SWPM, Unable to create node, can't create parent node, Windows Server 2012, Creating node $(DIR_INSTALL) with type DIRECTORY failed, access denied , KBA , BC-INS-NT , SAP Netweaver based Solutions on Windows , BC-INS-SWPM , Installation with Software Provisioning Manager , Problem