Microsoft Hotfix Installer (.exe):

setup.exe /t:C:<target_dir> /c

Microsoft Update Standalone Package (.msu):

expand -F:* update.msu C:<target_dir>
cd <target_dir>
expand -F:* update.cab C:<target_dir>

Microsoft Patch File (.msp):

msix patch.msp /out C:<target_dir>
msix.zip (http://www.windowswiki.info/wp-content/uploads/2009/07/msix.zip)

Windows Installer Package (.msi):

start /wait msiexec /a "C:∖TMP∖setup.msi" /qb TARGETDIR="c:∖TMP∖"

http://www.windowswiki.info/2009/02/19/how-to-extract-msumspmsiexe-files-from-the-command-line/