I just tested WinRAR 7.01 (even though my free trial period expired ages ago) and it worked fine on the 32-bit PE archive, but....
I highly recommend the totally free and open 7Zip over commercial products like WinRAR or WinZip. 7Zip is
the best general-purpose archiver, period, in my admittedly opinionated opinion.
(We do become partial to our old standbys. I used to work with a guy who
always installed trialware WinZip on every PC he touched. I wanted to yell, "Dude, I run these machines lean, mean, and clean, so don't pollute!" Yeah, I'm partial, too. Why pay for a lesser product or put up with nag screens when the best is totally free?)
So... If you don't want to install another archiver then try 7Zip Portable:
https://portableapps.com/apps/utilities/7-zip_portable.
Download and run the latest version, which is currently "7-ZipPortable_24.08.paf.exe". Run it to extract 7Zip, then run "7-ZipPortable.exe" in the extracted folder. It is never "installed" and makes no changes to your system. You can also click-and-drag your archive file onto "7-ZipPortable.exe" to automatically open the archive in 7Zip's file manager.
(Protip: Hit F9 in the 7Zip file manager to switch to "2 pane" view. Then you can see your archive in one pane and navigate to your destination in the other.)
Running 7Zip without installation means that you won't get the benefits of file associations or 7Zip's nifty right-click menu integration. For the full 7Zip experience you
must install.
7Zip Portable is currently at version 24.08, which works just fine on the PE archives.
(PortableApps.com is an outstanding & safe provider of "portablized" non-commercial applications that can be used without installation. Any configuration files and Registry entries created by a Portable App are kept strictly within the App folder, which can be stored on your hard drive or a thumb drive. There are no uninstallers for Portable Apps. You can simply delete the folders without a trace when done, if you wish. It's a great way to run in "stealthy ninja mode", or to try software before installing. Also great for one-and-done jobs. Because installers always leave a bad taste in my mouth, many of the applications I use daily are Portable Apps... except for 7Zip, of course!)