The new MacOS, Catalina, drops support for 32-bit applications. V2 is a 32-bit application. This means I must choose between never upgrading my Mac vs. never playing Victoria again. Please help me, PDS, you're my only hope! 
Simple, don't upgrade your Mac until V3 releases.
I contacted Virtual Programming in regards to a 64-bit update. Doesn't seem likely to happen.
They'll only fuck it up and then charge £100 for the DLC to fix it.