Deferred custom actions have limited access to the installation session. If your deferred custom action requires information about the installation that it cannot obtain through its limited access, then you can provide that information to the deferred custom action through the CustomActionData property. This method is only available to script and DLL deferred custom actions.
“How-to” make this work??
1.An immediate custom action that executes before the deferred custom action sets a property with the same name as the deferred custom action to the value that is needed by the deferred custom action. So, if the primary key for a deferred custom action is called “DeferredCA,” then the immediate custom action would set a property called “DeferredCA” to the value that was needed. A type 51 custom action would be an easy way to set this property. Another method would be an immediate custom action that calls MsiSetProperty with the szName parameter equal to “DeferredCA.” Note: The action name is case-sensitive.
2. When the deferred custom action is queued into the installation script, the installer will write the value of the property “DeferredCA” into the installation script as the value of the property CustomActionData.
3.Upon execution, the deferred custom action retrieves the value by making a MsiGetProperty call with the szName parameter equal to “CustomActionData.” Alternatively, a script custom action would use the Property property of the Session object
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Vijay is a passionate Technology Evangelist and expertised in Application Setup and Deployment. He is a Microsoft MVP and STEP Member for Windows 7. 
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For Basic Differences in “Execute Immediate” and “Execute Deferred” CA, Refer this link,
http://www.symantec.com/connect/blogs/basic-differences-execute-immediate-and-execute-deferred-ca?sym=TRUE