Softaculous error: "Incorrect binary permission Child failed to make LIVEAPI connection to cPanel."

Symptoms

After upgrading cPanel, you may experience an error with Softaculous

Incorrect binary permission Child failed to make LIVEAPI connection to cPanel.

Workaround

Reinstall Softaculous with the steps outlined in their documentation:

https://www.softaculous.com/docs/admin/reinstall/