While installing database connection error message is displayed, However all the credentials are correct.
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Maybe you’ve added the wrong Host Name in Configuration so that it displays an error message while installing SuiteCRM.
You can configure all details while Installation process of SuiteCRM as shown in the below screenshot,
See Screenshot : Screenshot by Lightshot
I agree with @jessica1 , if you are using MySQL then the port also has to be changed. MySQL runs in 3306 port.