>still runs on today's PCs

I guess it ran on 1999 PCs but not 2022 PCs. It won't run for me on Windows 10.

64 bit Windows won't run 16 bit executables.

here you are : 16-bit Windows (Windows 1.x, 2.x, 3.0, 3.1, etc.) on 64-bit Windows

https://github.com/otya128/winevdm