Hey! This application requires specifically python version 3.11.6, which is linked in the setup scripts as the "Download Python" button.
Once that is installed, go to Setup Retro Diffusion -> File Locations -> Check the "Show Path Settings" box -> "Add Python Path Manually" Select File
The installer file is not what you want to select, instead go to "C:\Users\<YOUR USERNAME>\AppData\Local\Programs\Python" and choose the "Python311" folder, and the "Python.exe" file.
If you've got further issues please join the Discord server and let me know, since troubleshooting there is much much easier :)