Microsoft Identity Manager installation error "Internal Error 2337. 0, Microsoft.MetadirectoryServices.host.dll"

Today I was doing a fresh installation of Microsoft Identity Manger 2016 with Service Pack 1 into a new development environment. The exact binary is “en_microsoft_identity_manager_2016_with_service_pack_1_x64_dvd_9270854”
Not too far into the installation of the Microsoft Identity Manager Synchronization Server I got the “Internal Error 2337. 0, Microsoft.MetadirectoryServices.host.dll” error as shown below.
https://dl.dropboxusercontent.com/u/76015/BlogImages/MIM2016SP1InstallError/MIM%202337%20Install%20Error.png
Doing a few searches didn’t throw me any bones. I could see that the installation had added the MIM Sync Server Service Account to the Logins on the SQL Server.… [Keep reading] “Microsoft Identity Manager installation error "Internal Error 2337. 0, Microsoft.MetadirectoryServices.host.dll"”