Unfortunately this was never resolved....I opened a support ticket and it sat with HP 3-4th level support for a couple months..... Sent them a bunch of logs and they just kept saying the repository isn't configured correclty.
Held a couple confrence calls and I point blank asked them if they could setup a test same as our enviornment HPDM 4.7 SP2 and IIS V 8.5 using FTPS protocol. I kid you not, support said they had to flatten the OS and start over a couple times in order to get the software to work with FTPS IIS and HPDM 4.7 SP2.
I would not bother trying to use IIS, I know they say it's supported but really it's flacky with their software.
My 2 cents