Thank you for posting here.
According to your description, I understand that:
You receive the Event 529 that indicates a authentication failure every
If I have misunderstood the problem, please don't hesitate to let me know.
To find the root cause of the reason why inetinfo.exe tried to
authentication the Administrator account with the incorrect password, we
will need to debug the inetinfo.exe and verify it.
Before that, from my experience the remote SMTP request may result in the
Event 529 from inetinfo.exe and Advapi. To verify that, you may take a
network trace on the server around 6:00 am until the issue reproduces. Then
check whether there is any SMTP requests and authentication failure
If you have any questions or concerns, please do not hesitate to let me know
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