I'm pretty sure that the old VB installer expects a 32 bit subsystem. When you look for VB on an ARM64 computer, it states that the installer fetches ARM specific runtimes. However, the current Visual Studio Installer looks nothing like the installer that is supplied with the package.
I have seen several other applications I've installed with the old installer, so probably my success was due to the stuff already being there. I also still have an older version of Visual C++ installed as well, but I haven't used it recently.
Doesn't look seamless to me.