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Hotfix is just this "version" name. it is proper working demo with some hotfix added to it.  If you have issues with unpacking - like, no .exe files, its most likely unpacking tool error.
Try using latest 7zip or latest winrar.
Some old versions can shred game files into separate pieces, breaking .exe in process.
We dont use hardcore encryption, so sometimes old unpacking tool can recognize game files just as another archieve, shredding it to pieces.

Either way, its not separate hotfix, its proper workin demo :)

'java.exe' is not recognized as an internal or external command,
operable program or batch file.

comes up when i try to run the launcher

You dont have Java64 installed.

Game requires Java, pretty much same as Minecraft. Its pretty much free tool, same as .Net Frameworks for other games.
You can get it here, make sure you get 64bit version.

https://java.com/en/download/manual.jsp