1. Resetting it might not give you Windows 8.1. It might give you Windows 10.....so you'll be back in the same boat with the well known problematic mei 11.0.0.1146.
2. It's free to re-upgrade to Windows 10 again if you go back to Windows 8.1. But you have to use the media creation tool from Microsofts website.
3. Sometimes that error occurs when you try to install the MEI. I don't know why.
4. There is a known compatibility issue with MEI 11.0.0.1146 (and Turbo boost driver 11.0.0.1146) and Haswell ULT that causes shutdown problems exactly like you describe (and sleep Issues).
5. Using the Windows 8.1 MEI driver is a known workaround.
6. Try to uninstall your Intel Management Engine Interface driver from Device Manager. After you uninstall it, restart your computer. Wait about a half hour....and Microsoft will automatically install th buggy driver again. Try again to install the Windows 8.1 Intel Managment Engine Interface driver.
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7, In this particular case, Acer's incompetence of giving you the buggy Turbo Boost driver through Acer Care Center...they should be the one's helping you.