CPUU fails to update Outlook profile with "[Warning] Cannot update the 'E-mail Accounts' (4254919)

CPUU failed to update Outlook profile with:

[Warning]     Cannot update the 'E-mail Accounts' properties

MAPI error.
Error code: 0x8004010f
Description: MAPI_E_NOT_FOUND

The following is also noted directly after the above warning.
"[Info]    Proxy server 'Proxyservername' was set for profile 'user1'.

It was found that CPUU was using the configured Proxy.pac file specified in the "Internet Settings" on the workstation which caused connectivity to the Exchange servers to fail.

Please remove the proxy configuration to allow CPUU to proceed.