Yes, I ran into that loop with the Mojave beta, though the reason may have been different from yours.
My issue: I had created a new, empty partition on my SSD to install Mojave to. Being in beta, things don't always do what you would expect. The installer told me right away that Mojave had to be installed over an existing OS. So, no "clean install" available yet. Okay, so I booted to another drive and cloned High Sierra to the new partition so I could upgrade one and still be able to boot into High Sierra.
As soon as the clone was finished, I started the Mojave install from the drive I was on, and chose to install it on the cloned partition. The screen for the firmware update appeared (there's yet another one for Mojave). It went through the motions of shutting down, and I held the power button, which flashed and beeped. Like you, it sat for a bit, then booted back to the drive I was last on without appearing to do anything.
Turned it, it simply didn't like the way I was trying to apply the upgrade. For whatever reason, the firmware/OS install sequence only works properly if you are installing Mojave to the same partition you booted from when you start it.
Your issue: It appears you must be logged into the Admin account instead of a standard user account to install High Sierra. Likely do to the higher level of necessary permissions to install the firmware update. Yes, you can enter the same admin name and password from a standard account if you know it, but it's still not the same as actually being logged into the admin account.
Restart and login to the admin account. Go into the System Preferences and change the automatic login to the admin account to make sure the installer doesn't get confused by starting from admin, but booting back to a standard account. Then, try installing High Sierra again.