Hello saranya.chitta@magna.com,
"Installation Error
Toolbox cannot be installed. Installation path is not accessible."
I would be tempted to say that the issue might be related to your user administration rights but if you say that your colleagues are able to install the toolbox with no issues...
"Created with R2019a
Compatible with R2017b to R2019a"
When this toolbox version was released, the last available Matlab version was R2019a. This is the reason for this message, but I can confirm that it is compatible and works with the R2019b Matlab version as well.
In order to install the toolbox on the R2019b, you can try two other methods or workarounds:
1. Since the error message is "Installation path is not accessible" you can try changing the R2019b AddOns to a location for you to know that your user has the permissions to write. Now you can try again to install the toolbox.

2. If the installation is not working using the previous approach since you already have the tool installed on R2018b, you can perform the following setup. Basically you can keep the installation files in the location for the R2019a, but use them inside R2019b.
For this, go to the path where the toolbox has been installed on R2018b. Default is C:\Users\{your user}\AppData\Roaming\MathWorks\MATLAB Add-Ons and locate the toolbox folder. Now, access that location from the R2019b. it should look like this. By running the mbd_s32k_path script in R2019b you should be able now to successfully run the S32K Toolbox in R2019b.

Hope this helps,
Marius