I have Windows 7 Professional 32-bit with IE 10 installed. I was having the same Windows Update error. I went to the c:\windows\system32 folder and renamed ieframe.dll to ieframe.dll.bak (after taking ownership and giving myself full rights to that file). Then I ran WIndows Update again and IE11 installed. I hope this helps anyone else.
I know this is a dumb question, but I gotta ask it. Why is it so important to install IE-11? IE-10 runs fine for me, and if I need something different, I have Chrome installed. Didn't Microsoft, or someone, say that update was a problem anyway? Wait for a future correction/update to install it.
Better HTML5 support. Chrome 31 and Opera 18 rate the highest.
I use Chrome as well, but there are some rare occasions that I need to use IE and for that reason, I like to keep it updated.