I was able to solve this issue doing the following:
1- Go to C:\Windows\System32\inetsrv
and double click on directory config
and accept the warning message.
2- Go to C:\Windows\System32\inetsrv\config
directory and double click on directory Export
and accept the warning message.
Then you will be able to run the app in your local IIS without being an administrator. You can follow the path in the given Image.