Adobe Pagemaker 6.5 runs on Microsoft Windows 95, Microsoft Windows 98, Microsoft Windows NT 4.0 (e.g., https://www.cnet.com/products/adobe-pagemaker-6-5-v-6-5-box-pack-upgrade-1-user-0052650301056/specs/). It's not at all surprising that it won't install on Windows 7.
Version 7 was the last version of Pagemaker. It ran on Windows XP but that's it (https://www.adobe.com/support/products/pdfs/adobe_products_and_windows_vista.pdf):
Adobe PageMaker 7.x does not install or run on Windows Vista. Adobe announced in
2004 that it was ending development of PageMaker but would continue to sell and support
the current version. It does not plan to update PageMaker to support Windows Vista.
It's remotely possible that Pagemaker v. 7 would run on Windows 7 with "compatibility mode" set to XP sp3. As Leviozar Gam said, your best source for such information would be the Adobe forums. See, for example, the discussion here: https://forums.adobe.com/thread/934219