Restore full control of registry key (and subkeys) to SYSTEM account

There is a registry key (and maybe more) that have had SYSTEM either removed or explicitly denied permission. I need to do this programmatically from the SYSTEM account (Powershell, VBS, command line all, Python all work).

I know that's old issue but in my case works below solution:

I used old Microsoft tool subinacl from Windows Resource Kit to set owner of registry key.

subinacl.exe /keyreg "HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Services\EventLog\Internet Explorer" /setowner=Administrators

Your account need to be member of local\domain Administrators group

1. Launch CMD as Administrator
2. Set owner of registry key to Administrators group (sample command above)
3. Grant Full permissions for SYSTEM and Adminstrators groups and enable heritage if needed (use regedit.exe)
4. Grant Read permissions for Authenticated Users etc
5. Restart server

Possible is also grant permissions with subinacl.exe but I've used regedit