Hello, sir! What are you up to?
This appears to be a CPU emulation issue in the normal core regarding undocumented (or at least poorly documented) behavior of certain flags for divide instructions; in this case the overflow flag for a word-size integer divide. It's somewhat related to an issue with a different game: The Perfect General I and DOSBox fail help
PCem and DOSBox-X unconditionally clear the overflow flag for divide instructions, and that does seem to make the game generally work okay. Still, it'd be pointless to check a flag that's always clear, but perhaps the game developer thought it means something when in fact it does not.
A possible workaround for the issue is to set core=dynamic; however, it probably depends on the build of DOSBox and the host system. The game works okay for me with core=dynamic and 32-bit builds of 0.74 and SVN on Win10 x64.