BUG #16602: Installation fails with Windows user name "ABC -def".

The following bug has been logged on the website:

Bug reference:      16602
Logged by:          Geordie Stuart
Email address:      geordie.stuart@pertronic.co.nz
PostgreSQL version: 12.3
Operating system:   Windows 10 Pro Version  10.0.18363 Build 18363
Description:

Hello.
We are encountering an installation error for very specific windows account
user names. See the details below. 

Environment
Operating System: Microsoft Windows 10 Pro Version    10.0.18363 Build
18363
Postgresql Installer: postgresql-12.3-1-windows-x64.exe
 
Reproduction
In windows create new account with user name of "ABC -def" (not including
the double quotes). Change the new account type to Admin.
    Settings->Accounts->Other users.
    Select "Add someone else to this PC"
    Select "I don't have the persons sign-in information"
    Select "Add a user without a Microsoft account"
    Set User Name to "ABC -def" (not including the double quotes).
    Add a password. Add the 3 security questions.
Select the new account and select "Change Account Type". Select
"Administrator".
Log off the current account.
Log into the "ABC -def" account.
Right click the installer file "postgresql-12.3-1-windows-x64.exe" and run
as admin.
Accept all defaults and set a password of "pass" (not including the double
quotes).

Result. 
We get a warning stating that the database cluster initialization failed. 

Notes.
Reproduction using a user name of "ABC- def" (the space and hyphen have been
switched) produced the same error.
Reproduction using a user name of "ABC-def" (the space has been removed)
results in success.
Reproduction using different characters in the user name but keeping the
<space><hyphen> or <hyphen><space> produce the same error. That
is a format of <3 alpha chars><space><hyphen><3 alpha chars> or <3 alpha
chars><hyphen><space><3 alpha chars> gives the error.
 
We are currently using postgresql-9.4.21-1-windows.exe and get a similar
error for that installer. Seeing as this version was not supported I
looked
to see if the issue had been resolved in later versions and ended up trying
all the installers up to 12.3-1. They all exhibited a similar issue.
Thanks.