A verbose log of MSI installations provides this type of information. MSI logging can be enabled through the command line or through MSI registry policy settings. Logging command line parameters can also be included in the release setting "MSI Command Line Arguments" when building a setup that will be launched from setup.exe.
Unfortunately, msidbgexe.exe is not intended for use on machines that do not have the InstallShield IDE installed (this is also a legacy utility that is no longer maintained).
In regards to monitoring property values, verbose MSI logs (/l*v) since MSI version 3.0 have included logging that shows property values as they change. This information can be located by searching for the name of a property in the log. Any changes to a property are logged as soon as the value is changed. Locating the nearest action start message before the property value change will indicate which action (standard or custom) has changed the value.
