As the event description indicates, this is simply a notification that the installer is ending the installation process. The GUID of the application is recorded (and it can be used to identify what application is referring to).
In many cases, there are other event related to MSInstaller that provide the reason for the installation failure. For example, in one instance, event id 1004 (from MsiInstaller) was recorded saying that the detection of a software's feature failed because on of the directories required for this did not exist (and the directory was listed in the event description). Event id 1042 followed this event indicating that the installation is ended. In that particular case, creating the directory listed in event id 1004 fixed the problem.