does the script call work manully (same as you do it in CA-RA) on the server when you run it in an elevated shell?
looks like you're script or call itself has an error, because it's looking for the "IIS" drive
here is how we start our powershell script for IIS tasks with the "run command line" action:
powershell -command "&{.\CreateWeb_withARAxml.ps1 wsg_params; exit $GLOBAL:LASTEXITCODE}"
As said, this works fine.