The win64 build requires a 64-bit version of Windows 10 (1809) or later and the MSVC 2019 x64 redistributable. Users are recommended to run this build if their PC meets the Windows version requirement.
The win32 build requires Windows 7 or later, the MSVC 2010 x86 redistributable and the MSVC 2019 x86 redistributable. This build is provided for those who cannot run the win64 build.
The .exe installers will automatically download and install the appropriate redistributable if you don't already have it installed.
7-Zip is required to extract the .7z archives.
The list of changes can be found here.