I see 4 MsiProperties and first 3 (INSTALLLOCATION/TARGETDIR/INSTALLFODER) seems to be installation destination related properties, so I tried just ADDLOCAL property.
While that did suppress the MongoDB Compass, it also seems to not install Compass. Which unfortunately is not what I desire. (If I just wanted to suppress Compass installation all together, I would use SHOULD_INSTALL_COMPASS=“0”)
I decided to download separate mongodb-compass-community-1.20.5-win32-x64.msi and install it as another entry and adopt SHOULD_INSTALL_COMPASS=“0” flag.
This way the initialization does not get launched.