I finally found something that worked for me (Windows 10).
- After downloading the Adobe Air .exe file, go to its location (usually in your Downloads folder) and right click on it. Rather than clicking on "Run as Administrator" (which did not work for me), click on "Properties".
- Then go to the "Compatibility" tab.
- At the bottom of the Compatibility tab place a check beside "Run this program as an Administrator".
- Hit the "Apply" button and try running your Adobe Air install again.
Note: After doing this, I had to do the same steps for the program that I was initially trying to install that required Adobe Air as a pre-requisite.