Yes, the software will install on Windows 10, but its functionality is drastically limited because compatibility is not 100 %. I've installed it on Windows 10 Pro x64 and although it works, some functions won't even activate, therefore I recommend using something else that is compatible with latest versions of Windows.
Here is an alternative that you might find useful for this procedure: http://vidcoder.net/
The application is called VidCoder and it's capable of ripping all kind of video CDs and DVDs.