Then you could test for the existance of the registry key HKEY_LOCAL_MACHINE\SOFTWARE\VMware, Inc.\VMware vSphere PowerCLI.
The branch contains a value (REG-SZ) called InstalledVersion.
But the build number in there is not the one you will get with the Get-ViToolkitVersion cmdlet.
It corresponds with the File Version property of the DLLs in the folder %ProgramFiles%\VMware\Infrastructure\vSphere PowerCLI.
Note that this folder was called differently when the product was still called the VI Toolkit for Windows.