Sitecore's installation wizard ended prematurely

OS: Windows 7 Ultimate
Sitecore version: Sitecore 6.5.0 update 5
 
When installing Sitecore 6.5.0 update 5 and selecting the .NET 4 framework the installation wizard failed and rolled back.

When examining the local IIS 7.5 ISAPI & CGI settings id it appeared that the .NET 4 framework was not enabled. However enabling .NET 4 still did not result in the Sitecore installation wizard successfully completing the install.

Installing Sitecore 6.5.0 update 5 for .NET 2, however, did work and after the installation was complete it was possible to switch the application over to .NET 4.