Any Labview application(.exe) requires a Run-Time Engine to operate in an OS where the Labview is not installed. The Run-Time Engine acts as a virtual library in a different environment, allowing the program to run it. Even if Labview application is so small in few byte, the size of Run-Time Engine is 2-300 MB. So, if you want to send this installer for deployment computer which doesn't have Run-Time Engine, more than 200MB of installer is inevitable.
But, if you want to make without Run-Time Engine, you must make sure that the LabVIEW Run-Time Engine on the deployment computer is the exact same version as your LabVIEW executable. You can download the correct version of Run-Time Engine from here onto the deployment computer