Microsoft Update: MS12-074-NDP20SP2-KB2729450-x64.exe is installed on the client as per Add/Remove and InstallLog.csv file; however, it still tries to install on the client. Further install attempts fail.
Exit codes 17302 and 1603
Appears the IsInstalled Rule is not targeting properly.
This issue was resolved in PMImport Version: 7.1.417 release.
Patch Management 7.1 SP1, SP2 & MP1.