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Error Code: 30088-1021 (0)
The cause of the error is that the wrong button is pressed to initiate the Office 2016 Preview installation. The “Update Now” on the setup installer main interface is meant to update existing preview version of Office 2016 (v16.0.xxx) installed on the system, which has an older version than currently available.
To properly fresh install Office 2016 Preview on a new system which does not have any Office programs, you have to choose “Configure Office Setup” to set your preferences. For details, visit the guide on how to install Office 2016 Preview.