It will launch the HxD64, but will also launch a program of our choice - a calc.exe in this case. Notice how the shortcut icon changed to powershell - that is expected:
We can change it back by clicking "Change Icon" and specifying the original .exe of HxD64.exe:
The original icon is now back:
Demo
Below shows the hijack demo in action:
In the above gif, we can see the black cmd prompt for a brief moment, however, it can be easily be hidden by changing the Run option of the shortcut to Minimized:
Running the demo again with the Run: Minimized shows the black prompt went away:
Note that hovering the shortcut reveals that the program to be launched is the powershell.