Windows for Workgroups 3.11 installer crashes with a general protection fault

I used only disk images from here: http://ia801606.us.archive.org/zipview.php?zip=/22/items/IBM_PC_Compatibles_TOSEC_2012_04_23/IBM_PC_Compatibles_TOSEC_2012_04_23.zip

When I try to install Windows for Workgroups 3.11 on either PC DOS 2000 or MS-DOS 6.22, the installer crashes after entering the graphical part with two dialogs containing:

Application Error
WINSETUP caused a General Protection Fault in module <unknown>0EDF:7011WINSETUP will close.

Application Error
WINSETUP caused a General Protection Fault in module USER.EXE at 0001:40B6.

And then:
Standard Mode: Bad Fault in MS-DOS Extender.
Fault: 000D Stack Dump: 0000 0000 0070
Raw fault frame: EC=0000 IP=5EF7 CS=037F FL=3087 SP=FFEE SS=02DF

This happens both with and without KVM. I tested with QEMU from Ubuntu 14.04 and 16.04 and recent GIT (ef8757f1fe8095a256ee617e4dbac69d3b33ae94).