Well, I skipped selecting the Sound Studio in the installation, and it successfully installed the Genie 2 2023.2 and the Genie 2 Updater just fine.
I'm not even sure what the Sound Studio is used for in Genie 2 as I never have a use for it anyway.
In the Philips HearSuite 2023.2 update, I did include the Sound Studio selection for the installation and it went through just fine, though. So I don't really know why I have a problem with the Genie 2 Sound Studio inclusion for the update.
I did try both a shutdown and a restart on my laptop and neither of those actions helped make the installation successful. Only excluding the Sound Studio selection in the update menu seems to have solved the installation failure.