Works, but horrid interface
It works, but it has a really unfriendly user interface that makes it confusing about exactly what are you are doing. They are more focused on the created zip file than they are on what I would expect as a workflow. You have to specify encryption when you add a file to the archive, and to do that you can’t use the drag and drop into the open app interface, you have to use the [+] button and then select encrypted then choose your file.
KiltBear about
WinZip - Zip, unzip, protect