No, this application isn't even compatible with Windows XP, barely with Windows 7. If you want to run it in Windows 7 or 10, a virtual machine needs to be created running Windows XP. You'll need a PC that features virtualization (check the BIOS and motherboard's features), an application called VirtualBox and a Windows XP installation disc or ISO.
When you manage to get all the requirements, access the following page to download VirtualBox and then this link to learn how to create a virtual machine. Once Windows XP is installed, transfer the installation package of Carlton Card Creatacard Gold to that environment and run it from there.
Tip: Carlton Card Creatacard Gold is still available for purchasing from the Amazon website.