If you are working with older Xilinx hardware, you likely must use ISE 14.7 rather than the newer Vivado software. ISE 14.7 is required for legacy devices such as:

If you try to install the standard ISE 14.7 directly onto Windows 10, it will often crash or fail to recognize your programming cable (JTAG). The VM version solves these problems.

The file xilinxise147win10147vm02131zip appears to be a specific distribution or update related to Xilinx ISE version 14.7 for Windows. Without further context or the ability to inspect the file contents, the exact purpose or functionality of this specific package cannot be determined. Users should verify the integrity and authenticity of the file before installation.

Officially, ISE 14.7 only supports Windows 7, Windows XP, and certain Red Hat Linux versions. On Windows 10, the installer fails, the USB license driver crashes, and 32-bit JTAG cable drivers are blocked. The community response: package ISE 14.7 inside a Windows 7 virtual machine that runs on Windows 10.

The vm02131 part suggests this particular archive includes a pre-installed Windows 7 VM with ISE 14.7 already configured, USB pass-through for programming cables (e.g., Platform Cable USB II), and possibly fixes for the "libportability.dll" error that plagues native installs.