Within the Technet forum thread Office 2016 (MSI installer) volume license incompatible with Visio/Project 2016 from MSDN (Click to run installer) a user wrote. contacted me a couple of days before and drew my attention to a Technet forum post, that addresses this issue. Parallel installation will work after all…

msi install is used to distribute MS Office, standalone Click'n'Run packages can't be installed on those machines. Some admins told me, that Access or Visio and Project 2016 are only available as Click'n'Run via Microsoft Imagine. This causes some administrators to run into problems in business environments. However, Microsoft does not allow/support a parallel installation of these two product variants. The advantage: You have the installation files for the Office package on a DVD or on your hard disk and can install in one go, without downloading. However, there is also an Office Professional version for business environments, that can be installed via. Only works as long as Microsoft offers the download. A web installer then pulls all components of Office and sets them up on a target system.

Microsoft usually offers its Office suite as a click-to-run installation.

Installing office 2016 on windows 10