You need to install the correct version of Episerver on your development machine if you haven't done that. That will set up some services and folders that are needed for edit admin, scheduler and search. 

I would probably set up a virtual machine with supported OS if I got a similar task to avoid some bugs with installer. That's my best advice

Note: current version of Episerver has all files included in appData and www folders so no need to install any services/folders anymore which helps when deploying to cloud etc.

Old episerver has a dependency to programfiles catalog, cms6 and earlier. Make sure you have installed the episerver product on you server. EPiServer Manager might not be able to use but the error sounds like your are missing the files in the program files directory.

If you have the files on another server you could try to copy paste them but you will also need services from that version installed on the machine.

http://world.episerver.com/download/Items/EPiServer-CMS/Version-4/EPiServer-CMS-462/

Yes I am trying to try this. Installed the episerver manager but it is hrowing errors there after.

Checking on settings to install all services and files for Epi 4.

It will be difficult to get the installer to work on WIN2008 which is why I recommend installing a virtual machine with a supported OS like 2003 or something.