When you right-click on a Windows Installer shortcut and choose Properties, the Target field does not show the path to the executable. This is because Windows Installer shortcuts work in a different way. When you double-click a Windows Installer shortcut, Windows reads the Product code, Component code and other details stored in the Shortcut in order to determine the executable file location.

(For more information, refer Microsoft article How Windows Installer Shortcuts Work.)
Here is a tool which displays the target path of Windows Installer shortcuts, along with the Product code and Component code. You simply need to drag the Windows Installer shortcut from Windows Explorer (or the Start menu) to the "drop" zone in this tool.
Download msitarget.zip (34 KB)

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