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Please download and use the McAfee Agent 4.0 Patch 3 (126.96.36.1994) - there are several UNC share issues resolved since Patch 1 build of the agent and it helps to try this build.
For a list of issues that are fixed since Patch 1, review the MA 4.0 Patch 3 release notes document here (PD22117):
Many thanks for your suggestion. It transpires that the fault was with a local system build issue whereby a drive was unavailable for files to be extracted to. Fault now cleared. Many thanks.