When it says, something went wrong and teams could not be installed --

User TAFHBES published the answer on March 27, 2023:

"I had same problem on my iMac running Ventura on Intel. Problem went away when I placed installer in applications folder before running installer."

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And this has worked for me. When I moved the installer to the Applications folder, it could finish the installation successfully.

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I'd like to note that this is bad behavior from Microsoft. Microsoft should display an actual error, when something goes wrong. The error in this case would probably be, permission denied. By obfuscating the error, Microsoft literally prohibits use of their product - which results in customers moving away from the microsoft platform, to open source or other open platforms. Not a great move by Microsoft. /end rant