In 90% of cases, simply enabling Media Features in the Windows Optional Features menu or installing the Media Feature Pack will solve the "Windows Media Player version 10 or later" requirement. Once these libraries are registered, your legacy games and apps should launch without a hitch. Here is some content related to the error
Legacy intranet web pages requiring WMP ActiveX (IE-only)
Desktop apps that call WMF (Windows Media Format) APIs and check for WMP version rather than library presence