I had this same issue on 17.2 and it was closed with "fixed in 17.4". So now I tried with latest version 17.4 but I get the same exact error:

Called Die(Configuration file not found: C:\Program Files\PostgreSQL\17\data\postgresql.conf)...

Script stderr:
Execution of PostgreSQL by a user with administrative permissions is not
permitted.
The server must be started under an unprivileged user ID to prevent
possible system security compromises. See the documentation for
more information on how to properly start the server.
child process exited with exit code 1

installbuilder_installer_28892.log