The shield icon indicates the current installer is not running with administrator privileges. If the installer is running with administrator privileges, the shield icon will not be displayed; otherwise, it will be displayed.
An exception is the built-in Administrator user who has launched the installer (or other Windows applications) by double-clicking, the shield icon is not displayed by default as it already has administrative privileges. However, for users in other user groups or the administrator group who do not run the installer as administrator, the shield icon is displayed, and elevation is required upon clicking.