I seem to have made a mess of my explanation, so I will have another go. 1) Download and instal VMWare Player, which is the free version. The pay versions cost plenty. 2) Have your XP installation disk and code ready, then open VMWare player. You will see a menu which asks you what you want to do. Click create a new machine, and follow the instructions. When you have created your virtual XP machine you will be asked which of your devices you want to attach. You will certainly need your printer, and USB disks that you have attached, and any other device like possibly Bluetooth.You now have a virtual 32 bit XP machine, capable of running any program run by XP. Now instal your UFT program.
Apart from the devices you have connected to it, your virtual machine is "Sandboxed", isolated from your real computer, and cannot in my experience have any effects on it or programs it is running. Good luck, let's know how you go on with it.