ClickOnce is a setup project. So it doesn't really make sense to have a setup program for a ClickOnce app. A ClickOnce app, when run the first time on a machine, will install (or try) the required components. As such all you need to do is host the EXE somewhere and that is the setup that gets run.
Is there a reason you need a wrapper around the ClickOnce-published app? If you need to add pre-reqs then that is part of the publish options. Right click your EXE project and select Publish. Under the Settings section is Prerequisites where you can specify dependencies, such as NET 4.8, that must be installed in addition to your app.