Which version of VSE are we trying to install?
Is VSE standalone or ePO managed? If standalone then I will suggest you to first install agent (run the frampkg_upd.exe) which is there in VSE software package.
This will install the agent. Once agent is installed then run the VSE setup file (SetVse.exe). If still its failing with error 1920, then I will suggest you to run the process mon tool when running VSE setup file.