HoMM3 HD is a mod (add-on) for the game Heroes of Might and Magic 3.

Medium_HP, in the Heroes3HDSetup.exe utility, in the "Your HoMM3 version" field, select "GoG.com Complete (No CD)."

I tried it, but it doesn't help; it doesn't recognize the heroes3.exe file. In other words, only Heroes32.exe is present in Executables. After running Heroes3HDSetup.exe, Heroes32.exe_HD.exe appears, which requires a disc when launched.
I checked it with a freshly extracted version from the archive (named Heroes of Might and Magic III [Geedunk].rar, with a folder inside called Heroes of Might and Magic III Complete) - the result is the same. :smile32: