Instalador Wix: serviço instalado incapaz de ler as entradas do registro HKLM no início

Estou usando a ferramenta wix 3.11 para criar um msi que instala um serviço. O instalador executa uma ação personalizada e retorna vars ao wix para gravar no registro (HKLM). O serviço inicia e tenta ler o registro, mas não pode ser feito e falha. Se eu escrevi o registro manualmente, o instalador funciona perfeitamente.

Mensagem de erro dos logs do msi:

Product: Installer-- Error 1920. Service 'XPTO Server' (xpto_server) failed to start.  Verify that you have sufficient privileges to start system services.

Meu XML Wix:

<Package InstallerVersion="200" Compressed="yes" InstallScope="perMachine" InstallPrivileges="elevated" />
...
<ComponentGroup Id="ProductComponents" Directory="INSTALLFOLDER">
  <Component Id="CMP_RegistryEntries" Guid="xxxxxxxxx" >
    <RegistryKey Root="HKLM" Key="SOFTWARE\XPTOInc\XPTO\XPTOServer\BetaVersion">
      <RegistryValue Name="token" Action="write" Value="[TOKEN]" Type="string" KeyPath="yes" />
      <RegistryValue Name="[IDENTIFIER_TYPE]" Action="write" Value="[INSTALLEDID]" Type="string" />
      <RegistryValue Name="installDir" Action="write" Value="[INSTALLFOLDER]" Type="string" />
    </RegistryKey>
  </Component>
  <Component Id="CMP_XPTOServerEXE" Guid="xxxxxx">
    <File Id="FILE_XPTOServerEXE" Name="xpto-server.exe" Source="Work\xpto-server.exe" KeyPath="yes" />
    <ServiceInstall Id="InstallExporterService" Name="xpto_server" DisplayName="XPTO Server" Description="Read data from Registry and do simple stuff" ErrorControl="normal" Start="auto" Type="ownProcess" />
    <ServiceControl Id="ServiceStateControl" Name="xpto_server" Remove="uninstall" Start="install" Stop="both" />
  </Component>
</ComponentGroup>

EDIT: Quando eu escrevi manualmente os vars no Registro, o serviço é instalado com o msi pkg ou em execução com sc.exe

EDIT 2: Aqui segue o log onde define o registro e, em seguida, serviço estrela

MSI (s) (70:74) [15:40:37:560]: Created Custom Action Server with PID 16808 (0x41A8).
MSI (s) (70:E4) [15:40:37:613]: Running as a service.
MSI (s) (70:E4) [15:40:37:615]: Hello, I'm your 32bit Elevated Non-remapped custom action server.
MSI (s) (70:38) [15:40:37:973]: Executing op: ActionStart(Name=WriteRegistryValues,Description=Writing system registry values,Template=Key: [1], Name: [2], Value: [3])
Action 15:40:37: WriteRegistryValues. Writing system registry values
MSI (s) (70:38) [15:40:37:974]: Executing op: ProgressTotal(Total=3,Type=1,ByteEquivalent=13200)
MSI (s) (70:38) [15:40:37:975]: Executing op: RegOpenKey(Root=-2147483646,Key=SOFTWARE\XPTOInc\XPTO\XPTOServer\BetaVersion,,BinaryType=0,,)
MSI (s) (70:38) [15:40:37:975]: Executing op: RegAddValue(Name=token,Value=xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx,)
WriteRegistryValues: Key: \SOFTWARE\XPTOInc\XPTO\XPTOServer\BetaVersion, Name: token, Value: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
MSI (s) (70:38) [15:40:37:976]: Executing op: RegAddValue(Name=envId,Value=xxxxxxxxxxxxxxxxxxxxxxxx,)
WriteRegistryValues: Key: \SOFTWARE\XPTOInc\XPTO\XPTOServer\BetaVersion, Name: envId, Value: xxxxxxxxxxxxxxxxxxxxxxxxx
MSI (s) (70:38) [15:40:37:976]: Executing op: RegAddValue(Name=installDir,Value=C:\Program Files (x86)\XPTOInc\XPTO\XPTO Server Beta\,)
WriteRegistryValues: Key: \SOFTWARE\XPTOInc\XPTO\XPTOServer\BetaVersion, Name: installDir, Value: C:\Program Files (x86)\XPTOInc\XPTO\XPTO Server Beta\
MSI (s) (70:38) [15:40:37:977]: Executing op: ActionStart(Name=InstallServices,Description=Installing new services,Template=Service: [2])
Action 15:40:37: InstallServices. Installing new services
MSI (s) (70:38) [15:40:37:977]: Executing op: ProgressTotal(Total=1,Type=1,ByteEquivalent=1300000)
MSI (s) (70:38) [15:40:37:978]: Executing op: ServiceInstall(Name=xpto_server,DisplayName=XPTOServer,ImagePath="C:\Program Files (x86)\XPTOInc\XPTO\XPTO Server Beta\xpto-server.exe",ServiceType=16,StartType=2,ErrorControl=1,,Dependencies=[~],,,Password=**********,Description=Read data from Registry and do simple stuff,,)
InstallServices: Service: 
MSI (s) (70:38) [15:40:37:980]: Executing op: ActionStart(Name=StartServices,Description=Starting services,Template=Service: [1])
Action 15:40:37: StartServices. Starting services
MSI (s) (70:38) [15:40:37:981]: Executing op: ProgressTotal(Total=1,Type=1,ByteEquivalent=1300000)
MSI (s) (70:38) [15:40:37:981]: Executing op: ServiceControl(,Name=xpto_server,Action=1,,)
StartServices: Service: XPTO Server
Error 1920. Service 'XPTO Server' (xpto_server) failed to start.  Verify that you have sufficient privileges to start system services.

questionAnswers(1)

yourAnswerToTheQuestion