By default IIS 4 doesn’t permit to use the Server.CreateObject command with an out-process ActiveX EXE component. To do so, you must manually create the AllowOutOfProcCmpts registry value under the path HKEY_LOCAL_MACHINESYSTEMCurrentControlSetServicesW3SVCASPParameters, and set its value to 1. To restore the default, set the value to 0 or delete the value.
Under IIS 5 you don’t need to apply this technique, because IIS 5 supports out-process ActiveX components by default.