I have a couple ideas.
1) The game Install shield is 16 bit, so it won’t install on a 64 bit system, even with compatibility.
2) If you are using an external CD drive, make sure you use USB 2.0 ports…I don’t know why, but my older CD Rom and 20 year old Wingman joystick hang up if I use the USB 3.0 ports.
3) Tying in with number 1, how new is your MOBO? After upgrading my MOBO to latest and greatest, it would NOT install Windows 7 64 bit. No way. Luckily, I had it installed on an older SSD, and was able to plug that in and it worked fine…but installing direct to the MOBO went no where. Don’t ask me why, lol.
Hope this helps…worst case would be installing it on an older system using XP and running a dual boot setup. Luck to you!