Prerequisite condition fails although condition is True

[Lirantev]

Hi all,

I'm trying to create a prerequisite for Balser installation that suppose to run if a registry key has a specified value. This is my setting in the Condition tab:

A registry entery has a specified value
HKEY_LOCAL_MACHINE\SOFTWARE\Basler\Pylon\InstalledModules
IP Configurator x64
6.1.1.19832
Data on target system is equal to specified data

When running setup.exe the prerequisite screen isn't shown although the registry key does exist with the exact values. Below is taken from the debug log:
9-30-2020[04:27:30 PM]: Checking setup prerequisite 'Basler pylon 6.1.1.19832.prq'
9-30-2020[04:27:30 PM]: Prerequisite 'Basler pylon 6.1.1.19832.prq' scheduled before feature selection
9-30-2020[04:27:30 PM]: Extracting 'Basler pylon 6.1.1.19832.prq' to C:\Users\asi\AppData\Local\Temp\{457CD4B8-86F4-4E97-AF99-37F3F2F30FE6}\Basler pylon 6.1.1.19832.prq
9-30-2020[04:27:30 PM]: PrereqEngine: condition,1,2,HKEY_LOCAL_MACHINE\SOFTWARE\Basler\pylon\InstalledModules,,, -- Failed!
9-30-2020[04:27:30 PM]: PrereqEngine: file,A1421005C5D88C3203AF84DCC4722436,D:\main_Installation\GenASIsInstallation\Src\ASI_Installation_Resources\SetupPrerequisites\Basler_pylon_Runtime\pylon_Runtime_6.1.1.19832.exe,,,, -- Successful,
9-30-2020[04:27:30 PM]: PrereqEngine: execute,pylon_Runtime_6.1.1.19832.exe,/install /quiet,/install /quiet,1046,3010,, -- Successful
9-30-2020[04:27:30 PM]: PrereqEngine: dependency,D:\main_Installation\GenASIsInstallation\Src\ASI_Installation_Resources\SetupPrerequisites\Basler pylon 5.0.11.10913 Remove.prq, -- Successful
9-30-2020[04:27:30 PM]: PrereqEngine: Id,{2941F790-34AD-456B-8C84-44AF88E5E6C4},, -- Successful

Any idea what can cause this issue and how it can be resolved?

Thanks and stay safe,

Liran.