Support Tip: Installation error: "0x81f40001 - Micro Focus <name_of_product> has not been detected."

When trying to install Visual COBOL or Enterprise Developer, the installation fails with the following error:

"0x81f40001 - Micro Focus Visual COBOL for Eclipse has not been detected."
"0x81f40001 - Micro Focus Visual COBOL for Visual Studio has not been detected."
"0x81f40001 - Micro Focus Enterprise Developer for Eclipse has not been detected."
"0x81f40001 - Micro Focus Enterprise Developer for Visual Studio has not been detected."

Full article: https://portal.microfocus.com/s/article/KM000007302