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I use Windows 10, and recently HoMM 3 is not launching. It just gives me a "Heroes of Might and Magic 3 has stopped working" error. I've delved deeper and tried all of the compatibility settings I can, but it still crashes on launch. After letting Windows check for me, it lists Heroes3.exe as an incompatible program. I don't know if an update to Windows stops it from running, but I really could use some help.
If you haven't done so already, contact support and see if they can sort it out.

Did you try anything from here:
https://steamcommunity.com/app/297000/discussions/0/520518053442194004/
(running as admin, missing dlls?)
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Malachite_Cobra: I use Windows 10, and recently HoMM 3 is not launching. It just gives me a "Heroes of Might and Magic 3 has stopped working" error. I've delved deeper and tried all of the compatibility settings I can, but it still crashes on launch. After letting Windows check for me, it lists Heroes3.exe as an incompatible program. I don't know if an update to Windows stops it from running, but I really could use some help.
Have you tried clean reinstall, preferably to another folder? That way, if Windows created any compatibility 'fixes' on it's own (and since Windows 8 it can sometimes do that) they would be reset and you would start with a clean 'state' so to speak.
If the game worked before and suddenly stopped, it might help.