Getting ShowBiz 3.5 to run on Windows 10 is not for the faint of heart, but it is possible. The software struggles most with modern file formats (like H.265 or high-bitrate MP4s) and driver signatures.
ArcSoft as a desktop video company is essentially defunct in the consumer editing space. They pivoted long ago to and mobile imaging solutions. The "ShowBiz" brand was last seen in OEM bundles around 2012.
If you are on a legacy 32-bit Windows 10 system:
The short answer is: It is not a "new" application from ArcSoft (the company has since shifted focus to mobile imaging and AI). However, using the "new" Windows 10 compatibility features , you can coax this old dog to perform new tricks.