Aurora R8, what is Install.exe file and is it a virus?

It is highly recommended that unless you know what the file is for to not run it and possibly delete it. exe files are executable and change your files or apps to a specific configuration. Install for you is just the file name however does not give us any info as it is a pretty default name used by a lot of companies/individuals.  Did the file come with the drive/how old is the drive. how did you come across the drive and did it try to auto-play/ use any files as soon as you plugged it in would be more info that is needed but unfortunately even with all the above answers you cannot rule out a virus. only use or plug in devices from trusted sources so the main question should be here is do you know how you acquired the drive and is that from a trusted source and the same goes for the file.

It could be anything; a legitimate windows file, a virus file, malware, etc.  It is impossible to tell from what limited info you provided. For example, didn't even include the file location.  Read this for more info: 

https://www.file.net/process/install.exe.html