The short answer is NO.
Dramatica Story Expert 5.3 is a 32bit app and therefore not compatible with Monterey, Big Sur, or Catalina at this time because it is a 32bit application.
Here is the current status of our update for the 64bit version of Dramatica Story Expert:
We hope to begin alpha testing the 64bit version of Dramatica Story Expert some time in 2022 after the release of Movie Magic Screenwriter 6.7. Since the 64bit version of Dramatica Story Expert requires a full rewrite, we are using much of the technology developed during the development of the 64bit version of Screenwriter.
We'd like nothing better than to provide a release date, but there are too many moving parts in having to rewrite Dramatica Story Expert from scratch to make it possible for us to do so. The prerequisite is the 64bit version of Screenwriter because all the basic functions will be reused from it. We've already built most all of the windows for the 64bit version of Dramatica Story Expert, but the underlying file management and parts connected to MacOS -- meaning non-Dramatica related -- is what we will grab from Screenwriter.
** For those on Catalina or Big Sur, we have an interim workaround for those who have Dramatica Story Expert 5.3. Here is a FAQ with directions on how to set up the workaround. We've found the performance of Dramatica Story Expert 5.3 on the virtual machine running on Mojave is robust. The downside is that it takes several steps to set up and does not work on new Apple computers with the M1 chip.
The VirtualBox workaround has been tested and runs on both Catalina and Big Sur but not Monterey.