This problem was related to the installation of Incredibuild. It is still unclear to me as to what exactly the root cause was but with Incredibuild installed it is possible that the compilation engaged Incredibuild erroneously, causing the permission problem as stated. At the time of writing this, there is likely some configuration issue with the Visual Studio Installer release of Incredibuild in combination with the stated compiler version.

Uninstalling Incredibuild via the Visual Studio Installer resolved the issue and allowed everything to compile normally again. Hopefully anyone else experiencing this problem will find this answer.