Hello @Michal Dejmek ,
Thank you for posting here.
After a lot of my research, here are the similar cases on other third-part forum.
Windows IExpress Untrusted Search Path Vulnerability
https://www.mageni.net/vulnerability/windows-iexpress-untrusted-search-path-vulnerability-813808
Self-Extracting Archive files created by IExpress may insecurely load Dynamic Link Libraries
http://jvn.jp/en/jp/JVN72748502/index.html
It seems a behavior by design.
And here is the workaround based on the similar cases.
As a workaround save self-extracting archive files into a newly created directory, and confirm there are no unrelated files in the directory and make sure there are no suspicious files in the directory where self-extracting archive files are saved.
Other reference
IExpress vulnerability… miscategorized?
https://community.greenbone.net/t/iexpress-vulnerability-miscategorized/2536
Hope the information above is helpful.
Should you have any question or concern, please feel free to let us know.
Please note: Information posted in the given link is hosted by a third party. Microsoft does not guarantee the accuracy and effectiveness of information.
Best Regards,
Dasiy Zhou