Double-click the V5.9.7 installer to begin installation.
Introduction screen, click Next.

Read the License Agreement, select I accept, then click Next. 

The V5.9.7 installer will uninstall any previous Waves versions.
Select Uninstall earlier versions, then click Next.

Choose destination folder for the Waves installation, then click Next.
Default location is highly recommended.

Locate your VST plug-ins folder, then click Next.
Default location is highly recommended.

Select the products you wish to install, then click Next.
Only the products you have selected will be installed. 

Confirmation screen, click Install.

If previous Waves versions are installed on your computer,
the V5.9.7 installer will now uninstall them.

Installation in progress...

Select Yes, I want to restart my computer now, then click Finish.