It sounds like you have an early release of Silent Hunter which does have a 16-bit DOS installer that will not function on 64-bit versions of Windows. I have such a version that has the CD-ROM volume label SH_V1_0_324. Unfortunately, many of the files in this version are compressed so there is no way to manually copy the disc contents into a functioning configuration on a hard drive.
You may see conflicting reports about the ability to install Silent Hunter into 64-bit versions of Windows because there ARE CD-ROMs with 32-bit Windows installers that will install correctly on 64-bit systems and put an entry into the list of installed programs. I have another Silent Hunter disc with a 1997 copyright date and a CD-ROM volume label SILENT that installs Version 1.0 properly on 64-bit systems. Silent Hunter Commander's Edition also has a 32-bit Windows installer as well. Of course the game's executable files are still 16-bit, so it will not run without the aid of something like DOSBox.
You may get better assistance with installation through DOSBox on the
www.VOGONS.org (Very Old Games on New Systems) site in the DOSBox subforum. The first thing to do is use the "60 seconds guide to getting your game to run in DOSBox" thread and make sure that you are getting the basics correct:
http://www.vogons.org/viewtopic.php?f=39&t=8933
If that doesn't work, try posting in the VOGONS DOSBox Games/Apps subforum and be sure to include your exact commands and any error messages.
Good luck!