Service 'MongoDB Server'(MongoDB) failed to start.Verify that you have sufficient privileges to start system services
I resolved this issue by installing Microsoft Visual C++ Redistributable 2019.
You can download it from the link below.
https://www.itechtics.com/microsoft-visual-c-redistributable-versions-direct-download-links/
In my case, I was changing the path in which the data and log folders were stored and the installer was not intelligent enough to auto-create the target paths. So after manually creating each set of folders and restarting the installation, version 4.0.10 installed without error.
I grappled with the same issue for a while until I realized that my problem is the installation location. You are most likely to run into this error if you install MongoDb in this folder: C:\MongoDB. I resolved it by installing in the default folder which is C:\Program Files\MongoDB\Server\4.0\bin