KB3038314 Fails to Install get the error 80092004.

I encountered the same problem. The issue is known to Microsoft. They advise:-

Known issues with this security update

• After you perform a clean installation of Windows 7 or Windows Server 2008 R2, and then you upgrade from Internet Explorer 8 to Internet Explorer 11, you may receive an error message that resembles the following: 

Windows Update encountered an unknown error

error code 80092004

After the clean installation, Windows Update continues to offer KB3038314 even though the security update may already be correctly installed.

If you receive this error message, click About Internet Explorer on the Help menu to determine whether the security update was installed. If the Update Versions line shows KB3038314, this indicates that the security update is correctly installed and that the system is not in an unprotected state. 

Microsoft is researching this problem and will post more information in this article when the information becomes available.

That’s what I was expecting. I think KB3038314 is only partially related to the IE. I think it is a more generic windows update which is the same for every IE version.

I think you installed it with the first bunch of updates where it was labeled for IE8. In my opinion there are two ways KB3038314 is getting on your PC. Either you install it for IE8 with the first updates, or it is later installed by the IE11 installer using windows update.

Since the problem only occurs for a fresh installation, I assume that Microsoft forgot to set up an "already installed" flag for KB3038314, which is installed the ways I mentioned above. "Old systems" hadn't the KB3038314 update incorporated into the IE11 installer yet, so they really need the update and therefore install it successfully.

To test this I set up Windows Update to download updates but let me choose when to install them. I hid all other updates except IE11 at the first run (so no KB3038314 for IE8). Waited several minutes to let the download finish. Then I disconnected the computer from the internet and started the installation. After a reboot I changed back the WU setting to check but let me chose when to download option. Checking for updates (twice, without any updates in between) listed KB3038314 for IE11 again. The installer of IE11 was previously not able to check for updates during the installation, so KB3038314 was theoretically still missing. I selected KB3038314 for IE11 and it installed successfully! I wouldn't call that a solution, at best a pretty dirty workaround.

Concerning your practice of hiding IE installers I really have no idea why this is working.

I checked the windows update log after installing IE11. There are indeed additional packages downloaded (15 in total). But KB3038314 is not part of them. Maybe it is just not listed. Did you install KB3038314 for IE8 at the beginning of the update marathon?

I checked installed updates and searched KB3038314 and it shows that it is installed, but it does not specify whether it's for IE8 or IE11.

IE11 is installed yet I continue to receive the 80092004 message for update KB30383414.  This is a freshly installed copy of Windows 7 with  a number of updates applied.

I checked the windows update log after installing IE11. There are indeed additional packages downloaded (15 in total). But KB3038314 is not part of them. Maybe it is just not listed. Did you install KB3038314 for IE8 at the beginning of the update marathon?