Most likely not,
PL7 is a windows based program.
If i recall correctly then the tsx4740 is a tsx cpu type 47, firmware 4.0.
firmware versions 4.0 till 5.2 (and before that) can only be openend in a program called xtel.
The good part is that the licenses for that program can be obtained freely (at least here in the netherlands) due to the age of the package. (see attachment for licenses)
The bad parts:
* XTel runs on OS2 (the desktop graphics need to be set to version 3.x otherwise u won't be able to read what is in the program)
* obtaining the software might be in issue the easiest way is to contact schneider electric and ask if they are able to put it on an ftp site (which they should have i used it a few years ago (yes years))
* obtaining OS2 (most likely u can download a version somewhere for virtual machine, this should work perfectly)
good luck
ps, get a floppy drive and floppys, u are gonna need them