Officially: No. The Hobbit (2003) by Inevitable Entertainment / Sierra lists **Windows 98/ME/2000/XP** as supported OS. Windows 7 (released 2009) is not supported, and the game uses the **SafeDisc v2** DRM driver (`secdrv.sys`), which Microsoft disabled by default in Windows 7 and removed entirely in Windows 10/11.
Run Windows XP in a VM (VirtualBox/VMware). Install the game there. It isolates the insecure DRM driver, preserves your host OS security, and offers snapshot/rollback. Allocate 512 MB–1 GB RAM, 8–16 GB disk, enable 3D acceleration. The game runs perfectly.