It's a false positive from Windows Defender. It's a common problem found on many games developed with Ren'Py. I've scanned the game with other antivirus including Malwarebytes with no issues.
There are 2 versions of the game TownOfMagic.exe (64-bit) and TownOfMagic-32.exe (32-bit).
The 32 bit is for older Windows versions and usually reports the false positive. If your Windows can run the 64-bit version, you can delete the 32 bit if you want to be safe.