I can't find the msi redistributables for Update 2 at this link, only RTM and Update 1:
I have only, as usual, got msm files installed at
C:\Program Files (x86)\IntelSWTools\compilers_and_libraries_2016\windows\redist\ia32\compiler
Maybe it could be a good idea to include a local copy of the msi package as well with the Intel Parallel Studio installation? Or at least update the stuff accessible by the web.