No. That causes a process with admin rights to run in the context of your desktop session. This is exploitable by non-admin processes running in the same session. The inter-process security in Windows is unfortunately weak when they share a desktop session.

You're assuming at that point that you're already compromised or running malware, though. If you aren't already infected with malware, this is not a problem. If the installer itself is malware, then switching to an admin account to install it obviously offers no protection.