How to fix permissions error on Windows event logs?

When installing the legacy Web Application, some implementers have reported having the following issue on Step 3 of Edit permissions to Windows event logs:

Whenever I try to give permissions to IIS_IUSRS for the EventLog->State node, I get a permissions error. For all the other steps, assigning the permission worked. I tried as Administrator, and even after booting in Safe Mode. Any ideas?

Instructions

Step-by-step guide:

In the Registry Editor, select HKEY_LOCAL_MACHINE → System → CurrentControlSet → Services → Eventlog
Right-click on the EventLog → State node, select Permission
Click Advanced button
On the Owner line, click Change link
Make sure the location is the computer and not the network. If it is not the case, press Locations button and select the computer from the list (usually first item in list).
Click Advanced button.
Press Find Now button.
Select Administrators group from the search results list and press OK to validate.
Press OK again to validate the selection.
Press OK to close the Advanced window.
Give full permissions to IIS_IUSRS, as described in the Assign permission to source folders section. If the IIS_IUSRS user is not present in the list, then click Add button to add it manually.
Repeat the same steps for every Eventlog node, as it can be required depending on the server’s environment.