I got the installer to run by first running WINEPREFIX="$HOME/wine-dng" winecfg and under the Applications tab setting the version to Windows 10.
With Wine 5.0, at the end of the installation (which completed without error) I don’t have a .EXE to run (Ubuntu 20.04.2), so I followed these instructions to install Wine 6.0, for a working DNG converter installation: https://computingforgeeks.com/how-to-install-wine-on-ubuntu-linux/