The contents of the file don't necessarily matter, but if it's missing, you'll get a problem. Fortunately, it's easy to replace.
Launch Notepad, enter "@ECHO OFF" (no quotes), press Enter at the end of the line, and save the file as C:\Windows\System32\ Autoexec.nt. When saving, put the filename in quotes; otherwise Notepad may give it the filename Autoexec.nt.txt. Now try the program. If it still doesn't work, reopen the Autoexec.nt file and add the following lines:
SET BLASTER=A220 I5 D1 P330 T3
That should do the job.