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This is a configuration or other issue with your PC, not with Calibre. 8.16 and 8.17 both install just fine on Windows 7 x64 here.
You might try right-clicking the file, select Properties, and mark it as safe. Sometimes Windows marks files downloaded from the Internet to not allow them to run.
Finally, if all else fails, open a CMD window AS Administrator. Change directory to where the .msi file for calibre is located and run it from the command line. (so, for 8.17, the command line would be:
.\calibre-0.8.17.msi
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