If your software requires several MSI files (e.g., a main app and a plugin), a single EXE can chain them in the correct order.
Windows includes a free but dated tool called (run iexpress from the Start menu). It creates self-extracting EXEs that can launch a setup program.
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No direct “Save As” converter exists. Instead, you create an EXE that carries the MSI inside it.
If you wrap an MSI with /quiet inside an EXE, ensure the EXE itself supports silent operation. Not all wrapper tools do.