Extract the archive to C:\Xilinx_ISE_Installer (avoid long paths or spaces).
If you are trying to run the native Windows version of ISE (originally for Windows 7) on Windows 11, it will likely crash when opening file dialogs. You can apply these community fixes: Installing Xilinx ISE 14.7 on Windows 11 - EEVblog xilinx ise 14.7 windows 11
Download Ubuntu 18.04, fire up VirtualBox, and install ISE there. Your future self—debugging a timing closure at 2 AM—will thank you. fire up VirtualBox
If the license manager fails to open, ensure you have applied the "Dll Swap" mentioned in Step 3. Optimization Tips for Windows 11 xilinx ise 14.7 windows 11