The correct order of installation for PAS components up to and including version 10.6 is Vault, CPM, PSM, PVWA. The Vault is the core component that should be installed first to store and manage passwords securely. Next, the Central Policy Manager (CPM) should be installed, followed by the Privileged Session Manager (PSM). Finally, the Password Vault Web Access (PVWA) should be installed to provide administrative access to the system.