The "Bootable" legacy ISO you've used is in fact not bootable, it relies on CDROM emulation provided by BIOS. VMs don't usually do this sort of emulation. If you set the guest OS to something like ...
It is the first thing you need to fix the issue as stated above. For that, you need to run the virtual machine showing the error and go to the Devices > Install Guest ...
Running Windows completely off of a USB flash drive is quite handy if you want to try a newer or older version of Windows without affecting your current system. The USB drive can also serve as a ...