The message "No JVM could be found on your system, please define EXE4j....." is usually due to wrong/missing file system permissions or your user not having the rights to install software. You can try to SHIFT + right click on the Trader Workstation (TWS) installer and select Run as Administrator.
If the issue still persists then try installing the Offline TWS version from our website. This version already packages all the needed core application files in the installer and does not need to download any additional component during the installation. Moreover this version will not perform automatic platform updates during the start-up phase.
Please note: A working Internet connection and network access to our servers are still required in order to run the Offline TWS, as described in the DESKTOP TWS section of the IBKR Host and Ports Documentation.