How can I execute Powershell scripts after the installation in WiX v.5 with custom action?

Question

I'm currently trying to implement a custom action that executes a PowerShell script after the installation.

My thought about what exactly the MSI file should do is:

1. Install/copy the Powershell script into a directory
2. Execute this script after the installation of all files is completed

This is my current code snippet (which is not working):

<Wix xmlns="http://wixtoolset.org/schemas/v4/wxs">
    <Fragment>
        <Component Id="installationScript" Guid="e74fa7d1-f7ef-4994-add6-a5cb84f04b95">
            <File Id="installationscripts" Name="unzipActiveDirectory.ps1" Source="unzipActiveDirectory.ps1"/>
        </Component>
 
        <CustomAction Id="RunPowerShellScript"
            ExeCommand="powershell.exe -ExecutionPolicy Bypass -File &quot;[InstallationScriptsFolder]unzipActiveDirectory.ps1&quot;"
            Return="check" Execute="deferred" Impersonate="no" FileRef="installationscript" />
    <InstallExecuteSequence>
      <Custom Action="RunPowerShellScript" After="InstallFinalize"></Custom>
    </InstallExecuteSequence>
 
    </Fragment>
</Wix>

I also tried another attempt from another Post that referred to a blog post. But this post was written in 2011 and is not compatible with WiX v5 anymore. The other post is also very old, so I would like to re-ask this question.

This is the code I wrote with the help of the blog post:

<Wix xmlns="http://wixtoolset.org/schemas/v4/wxs">
    <Fragment>
        <Component Id="installationScript" Guid="e74fa7d1-f7ef-4994-add6-a5cb84f04b95" Directory="InstallationScriptsFolder">
            <File Id="unzipActiveDirectoryFile" Name="unzipActiveDirectory.ps1" Source="unzipActiveDirectory.ps1"/>
        </Component>
    </Fragment>
 
    <Fragment>
        <Property Id="POWERSHELLEXE">
            <RegistrySearch Id="POWERSHELLEXE"
                            Type="raw"
                            Root="HKLM"
                            Key="SOFTWARE\Microsoft\PowerShell\1\ShellIds\Microsoft.PowerShell"
                            Name="Path" />
        </Property>
 
        <Condition Message="This application requires Windows PowerShell.">
            <![CDATA[Installed OR POWERSHELLEXE]]>
        </Condition>
 
        <SetProperty Id="unzipActiveDirectoryFile"
             Before="unzipActiveDirectoryFile"
             Sequence="execute"
             Value ="&quot;[POWERSHELLEXE]&quot; -Version 2.0 -NoProfile -NonInteractive -InputFormat None -ExecutionPolicy Bypass -Command &quot;&amp; '[#unzipActiveDirectoryFile]' ; exit $$($Error.Count)&quot;" />
        <CustomAction Id="unzipActiveDirectoryFile"
              BinaryKey="WixCA"
              DllEntry="WixQuietExec"
              Execute="deferred"
              Return="check"
              Impersonate="yes" />
        <InstallExecuteSequence>
            <Custom Action="unzipActiveDirectoryFile" After="InstallFiles">
                <![CDATA[NOT Installed]]>
            </Custom>
        </InstallExecuteSequence>
 
    </Fragment>
</Wix>

My knowledge about custom actions is very limited, so I'm really looking forward to someone who can help me.

Thank you!