I finally managed to find the issue!
Studying the installation log (c:\Program Files (x86)\SAP\SapSetup\LOGs\NwSapSetup.log") from both Win 10 (not working) and Win 7 (yes working), I have noticed the 2.2 SP2 installer was tripping (in Win 10) in a particuley Registry key, probably a leftover key from apparently incomplete uninstall of Office 365 32 bit (which came as pre-installed with my company's os image):
HKEY_LOCAL_MACHINE\SOFTWARE\WOW6432Node\Microsoft\Windows\CurrentVersion\Uninstall\{90150000-008C-0000-0000-0000000FF1CE}
I have removed above mentioned key and retrying the installation, it worked!!!
Now I am a happy user of BO Analysis 2.2 SP2 that is fully functional, and quite happy as I nailed down the root cause myself (Thanks to Derek to point me to a direction of checking the registry values, which was a turning point).
The weird thing about the whole process, was the 2.0SP3 of same BO Analysis was installing ok, (but not fully acceptable due to crashing when clicking "Display" from Analysis ribbon in Excel, so wasn't able to make any layout customization), and that installation kit was not checking that particular key...