This Microsoft product - despite the latest version being issued back in 2016 (and basically all of its features built in Windows 10 / Defender ATP Exploit Guard), can still be useful when analyzing and hardening older (EOL) systems.
To get the bigger picture, let's say that Its intention (in the layered / in-depth approach) is to find (and close) all those gaps between an firewall and the anti-malware solution - therefore it's a complementary product (not a substitution for any of these).
Officially supported OSs range from Windows Vista to 8.1 / Server 2012 R2 - the only optional feature required is .NET (4 / 4.5) Framework.
CAUTION: if you intend to use the product, be sure to use the latest (5.5x) version available, as the earlier ones have had some vulnerabilities!
One interesting solution that EMET also provides is a possibility of SSL / TLS certificate pinning called Certificate Trust - it is intended to detect (and stop, in later versions) man-in-the-middle attacks abusing the public key infrastructure (PKI).
The installation procedure can be seen below - this screen actually lets you keep your old (EMET) settings (if you had the product already installed) or start with a default configuration (radio button above):
The app itself is pretty straightforward for use - anyway, this is what the basic screen looks like:
Application Configuration is also quite easy to use - it's recommended to check all the boxes first and then test your programs - should any of them perform unexpectedly, then try unchecking them.
At the very end of this article, let's just mention that EMET was somewhat succeeded by a PowerShell module / cmdlet called Process Mitigation Management Tool - if you encounter any problems while using EMET (e.g. on Windows 10), I'd suggest using the latter solution.