I have a ProBook 4540s, Windows 8. Bought pharaoh on GOG.

Basically every time I try to open pharaoh User Account Control opens up and asks "Do you want to allow the following program to make changes to this computes?" If I click yes, I attached pictures of what happens. And the whole time mouse is showing loading sign. It does not crash or anything, the last black screen disappears and that's it.

Thank you.

Disable User Account Control. Unless your PC is shared, you do not need it enabled on your PC and it causes many problems with games as a result. It also messes up the location of save game files, as well as game configuration, because most of these older games expect files in "Program Files" (or Program Files (x86) if you have 64-bit Windows), but UAC moves them to a "VirtualStore" and causes games to malfunction.

Tried it, no change, the same thing happens.

Are there any overlays enabled (eg Shadowplay, Discord)? These will interfere with the game engine.

If this isn't true, it might be the game cannot load due to an anti-virus blocking the executable. Make sure to either disable your AV or create allow rules in your AV so it doesn't trigger. Alternatively, uninstalling and reinstalling the game, with the AV and UAC off, may help with the problem.

When files are retrieved in an untrusted manner, they may receive a danger label on their alternate NTFS file stream.

Because of such a label, the antivirus and the system may begin to strongly distrust the file.

You can remove the label with programs for editing NTFS streams.
(or by hand via command line)
Or even easier - copy the file to a drive with the FAT32 file system (USB flash), and then back.
(when transferring, the label will be destroyed, since FAT32 does not support NTFS streams)