PowerShell execution policy set but not recognized when invoked from .Net program - powershell

Question

I have created a small program in Visual Studio - a form with a button to execute the program when clicked - and built the .exe.
This program is supposed to open PowerShell and run a ps1 file.
When I run it from within VS in debug mode, it works as expected running the ps1 script without error.
When I build the project and run the exe as an administrator, it briefly opens PowerShell but closes immediately.
The output file states that the execution of scripts is disabled on this system, although this is incorrect as I can run any number of PowerShell scripts manually by right clicking them and running them with PowerShell.
I have tried changing the execution policy from Signed, to AllSigned, as well as Unrestricted, but it did not help.
Here is my code:
if (File.Exists("LiveSiteTests.ps1"))
{
File.GetAttributes("LiveSiteTests.ps1");
string strCmdText = Path.Combine(Directory.GetCurrentDirectory(), "LiveSiteTests.ps1");
var process = new Process();
process.StartInfo.UseShellExecute = false;
process.StartInfo.RedirectStandardOutput = true;
process.StartInfo.FileName = #"C:\windows\system32\windowspowershell\v1.0\powershell.exe";
process.StartInfo.Arguments = "\"&'" + strCmdText + "'\"";
process.Start();
string s = process.StandardOutput.ReadToEnd();
process.WaitForExit();
using (StreamWriter outfile = new StreamWriter("StandardOutput.txt", true))
{
outfile.Write(s);
}
}