Creating a Conda Environment is different to a distributable build as I have found out so unfortunately I can't help on that front but the Conda process was pretty easy, I know nothing about Conda before trying it this morning.
1) Download MiniConda3 from https://docs.conda.io/en/latest/miniconda.html click the Python 3.7 Miniconda3 Windows 64-bit version
2) Choose a suitable HDD/SSD with enough space and install to that partition, I would personally recommend against C:\Program Files unless you have no alternative, I installed for All Users, otherwise accept all defaults that the installer presents.
3) Click Start > All Programs > Anaconda3 (64-bit) > Anaconda Prompt (Miniconda3) you don't want the Powershell version
Now it's a case of typing in the Anaconda prompt following @looo's steps
4)
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conda config --add channels conda-forge
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conda create -n freecad37 freecad python=3.7.6
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conda activate freecad37
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freecad
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conda deactivate
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exit