Install:

Drag "Fable Anniversary" folder to C:\Program Files (x86)\Steam\steamapps\common or D:\SteamLibrary\steamapps\common

Replace Files

Done :)

Uninstall:

Step 1:
Delete  <Install location>\Fable Anniversary\WellingtonGame\FableData\Build\Data\Levels folder
Delete  <Install location>\Fable Anniversary\WellingtonGame\FableData\Build\final_deliverable_userst.ini file

Step 2: "Verify Integrity of Game Files"

Step 3: Let steam download and replace files.