SQL 2022 is indeed compatible with Windows 11. Although there is a known issue, which you can read about here. That issue is not related to the problem you are running into now, because you are not coming very far. But I recommend that you read the article, as this can save you from grief once you have gotten past this problem.
As for this problem, I don't know exactly what is going on. But I recommend that you uninstall all OLE DB drivers you have installed manually to avoid any conflicts.
I would also recommend that you select the option Download Media, and then run the install from the ISO.