When these things happen, there is a problem with the game/software itself. That's the component that needs to be updated, regardless if you try all sorts of compatibility tweaks.
On the website that's being hosted, the game is listed to be compatible with the following versions of Windows: Windows 98, XP, Vista,7, 8, and 10.
Therefore, update your PC and use the Windows Update to install the latest packages. Once that is finished, try to run the game again. I've just tested this and the Tank Commander game is working without errors.