Unfortunately, Effects 3D Studio was released around 13 - 14 years ago long before Windows 10 and even before Windows 7.
It has also been discontinued for many years now so never received any updates to make it compatible with modern operating systems.
The only thing to try is to run it in compatibility mode. You can do this by right-clicking the desktop icon and select Properties. Then switch to the Compatability tab and under Compatability Mode try changing this to Windows XP or Windows 7 and see if it runs.