I was having problems for the past few days installing the OculusSetup.exe, as every time I got past the licensing agreement I was met with "Can't Connect. Looks like we can't reach the Oculus server. Please check your connection."
If you are having this issue, check for the log under, %Appdata%/oculus/oculussetup.log. I learned that the runtime has to be uninstalled before you can install the home setup, and there has to be enough room on your C:\ drive or it will give you this error as well. Hope this helps someone.