This is a fairly common error that many people encounter when installing new software. I ran into this issue while trying to install Android Studio on my Windows 10 (x64).
What is Windows 10 controlled folder access?
Controlled folder access is an anti-ransomware feature in Windows 10 that helps protect your computer’s file system from being modified by suspicious or malicious applications (especially ransomware). You should find it in the “System Protection” section.
Controlled folder access in Windows Security examines applications that can make changes to files in protected folders and prevents unauthorized or unsafe applications from accessing or modifying files in these folders.
Access the corresponding property sheet in the Control Panel as follows:
Select Start > Settings > Update & Security > Windows Security > Virus & threat protection.
In Virus & threat protection settings, select Manage settings.
Under Controlled folder access, select Manage controlled folder access.

I wanted something that would quickly test my hunch, although I could look at other options for managing it, but this cannot be a permanent solution.
I took a calculated risk. chose to temporarily turn OFF access. I then started the installation process for Android Studio and turned the protection ON when it was installed.
I did not receive any further notifications and the software was successfully installed.
Which folders are protected?
In the image above, you can review them by clicking on Protected folders. Here is a partial list.
