No trick, very easy and straightforward. Following my description above, I have three directories with content as below. The paths to all three directories have to be added to your current PATH environment variable (this is when you want to distribute your program, be careful not to have these additions in your PATH during development). You can use this setting to run a Swift program compiled with the according Swift version without having to install anything (besides having those three directories) on a system.
directories with content
Swift.5.7.0:
BlocksRuntime.dll
dispatch.dll
Foundation.dll
FoundationNetworking.dll
FoundationXML.dll
plutil.exe
swiftCore.dll
swiftCRT.dll
swiftDispatch.dll
swiftRemoteMirror.dll
swiftSwiftOnoneSupport.dll
swiftWinSDK.dll
swift_Concurrency.dll
swift_Differentiation.dll
icu.69.1:
icudt69.dll
icuin69.dll
icuuc69.dll
license.txt
VC-Redist.142:
concrt140.dll
msvcp140.dll
msvcp140_1.dll
msvcp140_2.dll
msvcp140_atomic_wait.dll
msvcp140_codecvt_ids.dll
README.txt
vccorlib140.dll
vcruntime140.dll
vcruntime140_1.dll