I've got the exact same issue. On one machine it worked after I uninstalled everything and re-installed it all again. But on this one that didn't fix it.
I installed both games from scratch. Applied the official patch (1.06 and 2.01 respectively) and then the unofficial patches (1.09 and 2.02)
I installed bfme2 HD. I copied the new options.ini files to my roaming data folder. and then I installed Age of The Ring 4.1.
BFME2, BFME2 HD, and ROTWK all launch fine. But Age of the Ring gives the haradrim voice error.
I did see it stated to roll bfme2 back to 1.06. I did this, but it did not fix the error.
I re-ran all of the above steps on a second computer and it worked fine. The only difference being that on the first computer I had games install to the D:.
So I uninstalled everything on the first computer, and then resetup it all up. This time I allowed it to use the default C:. Now it works.
So even though it lets you choose where to install, it appears that it doesn't work unless you use the defaults.