Using installer setup_the_planet_crafter_v0.9.026_(71342).exe
The application was unable to start correctly.

Same problem. Only it doesn't even post an error message for me; trying to start the exe file just doesn't do anything. At least the uninstall.exe works, I guess.

From what I read on the Steam forum, it seems that the latest update (procedural wrecks) requires windows 10 to run.

The store page still says Windows 7 for the minimum system requirements.

Installation via Galaxy works for me on Win 10.

FWIW, version 0.9.026 is a development version, not a release version. Versions 0.9.025 and 0.9.028 are the release versions, but they're not on GoG.

I can't confirm it yet, but maybe the latest version that works on Windows 7 is 0.9.012. Does anyone have this version to confirm it?

As I stated in other post, and as henkie196 says, according to developers in Steam, after the "Procedural Wrecks" update (version 0.9.0.25, 19 February 2024), the game no longer works on Windows 7/8.

I confirm that the last GOG version that works on Windows 7 is 0.9.012.

That's a Unity issue. From Unity's own announcement:
"The last version of Unity that will work on Windows 7 will be Unity 2022 LTS"
So developers who wants to service Windows 7 users are basically hard-locked to that version, which comes with significant drawbacks compared to the two dozen or so released Unity has had since then. Also support for it will be cancelled next year, so if your games runs Unity 2022 LTS and something breaks next year, your game will shut down.