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I just installed the latest version and had the same thing. I just let it continue running on the Python dependencies screen. Came back in a few hours and it had completely successfully. Not sure why this part takes over an hour, but let it run and hopefully it will complete! I was able to launch Alteryx while this was happening, so the installation of the application appeared to be done. I'm not using Python, so didn't care either way if the last part finished.
To the best of my knowledge a good deal of the scripts on the back end of Alteryx are in Python, hence why this part of the install is quite time consuming compared to the rest. When Installing for clients I've had I always make sure to have a story or two on hand to share as the python dependencies are loaded! We have timed them across various installs for clients we got between 30 - 40min. Mostly depends on the machine your installing on and its specs.
I am installing version 2020.4. It is still installing dependencies after 40 min. Based on the comments here, I will give it another hour or two. However, I am curious if a previous Python installation can help.
I had this problem the last time I upgraded, but it eventually finished and seemed to work fine. Unfortunately my computer hung up on me today and my only option was to reboot. Apparently it put Alteryx into a weird state where it would not start - I kept getting errors and it wanted me to debug the app. I finally resorted to trying to reinstall Alteryx. This caused more problems as apparently version 2021 is temporarily unavailable so I was unable to download it. When I downloaded version 2020.3 and tried installing it, it gave me errors that my workflows were created in a newer version and might not run. It also gave all kinds of errors regarding predictive tools also being the wrong version. I'll try to make this long story shorter by saying this - I uninstalled Alteryx using the control panel, cleaned up any left over directories mentioned below then did a clean install on version 2020.3 again. It seemed happy until the Python dependencies again. I went into task manager and noticed that it seemed to be fighting it out with Norton utilities. I temporarily disabled the Norton Firewall for 15 minutes - and the install finished immediately. I'm still getting the error about workflows being created in newer version - but all of the other errors have gone away. To sum it up - I installed Alteryx and Predictive tools as Admin, disabled Norton Firewall for 15 minutes, and the install went smoothly and quickly. Hope this helps someone! Hopefully version 2021 will be re-released soon so I can stop getting the other errors.