Drag-and-drop the AeXPatchUtil.exe over a CMD, or run cd /path, and run the command (space)/i. Example: C:\Program Files\Altiris\Altiris Agent\Agents\PatchMgmtAgent>AeXPatchUtil.exe /i
Process outlined in KB HOWTO4198: This process is attached as a .txt file that can be saved as a .bat file and used to run on targeted machines, in a DS Job for example, at the administrator's discretion. It has not been officially tested and is not supported by Symantec/Altiris. However, it simply runs the commands listed above and was tested in a single environment to find it works. The .bat file may display the CMD DOS window on the client while executing if it is not being ran with Deployment Solution or Software Delivery Solution, for those solutions have the means to 'hide' the window.
Also note the diferrences between the IBD file for PM 7.0 from the IAD file from PM 6.2 KB as outlined in KM: HOWTO9791.