Assuming you are using the disk based version of the game, the problem has absolutely nothing to do with administrator anything, and applying permissions as suggested above will not help.
AOE II uses SafeDisk copy protection. AOE III does not.
MS has devised a malware called DRM Blocking which prevents games that use SafeDisk and have a file titled secdrv.sys on the games disk from launching. I have more details in my post at --this thread--
Note there are many threads regarding issues with AOEII on earlier versions of Windows as well, so even
if you use a noCD fix/hack to get the game to run you may still need to do a search of these forums
(search bar at top of page) for other fixes. Fixes that worked on Win7/8/9.1 should also work on Win10.
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