One step at a time:
WORKS632.msp is the actual patch contained in MS08-011 / "Vulnerabilities in Microsoft Works File Converter", which equates to KB943973 for Office 2003. From the download center, this would be known as office2003-KB943973-FullFile-ENU.exe
I'm guessing that Office Integrator integrated this into your Office 2003 Standard install, then threw away the patch itself. However, the registry retains not only the patch details, but also should hold the folder the patch was kept in. When you come along with Publisher, the Installer is trying to fetch the patch location from the registry and then failing.
For a workaround:
Have you tried downloading the HotPack for Office 2003, unpacking the contents to a folder (with 7zip) and pointing the dialog to that folder?
I suspect that you might have to do that for every patch. The alternative is to edit the Registry directly for all the patches, in order to put in the new source path. Or maybe you could make the original source path available again if you are actually networked.
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