Unfortunately, it does not run on Steam Deck because it is not compatible with Steam deck. It is also stated here
https://kubat-software.com/temp/SteamDeckUnsupported.jpg so players who would like to play it on Steam Deck know in advance that this game will not work there.

Steam deck did not even exist when the game was released:)

Just to update, I'm playing on a Steam Deck and it doesn't run out of the box, but if you don't mind doing a bit of fiddling it's working fine in desktop mode on Proton 8-25 with the corefonts and gdiplus packages installed via Protontricks. Check protondb for a more detailed todo, but 50 or so turns in I've had no problems so far.