You can download the latest official binaries for Windows directly from the MAMEdev.org downloads page. After downloading and extracting the MAME folder, you will find chdman.exe inside.
You don't need to install the whole emulator. Open the downloaded .exe with 7-Zip or WinRAR, and you will find chdman.exe inside the main folder. where to download chdman
CHDMAN is part of the (Multiple Arcade Machine Emulator) package. It is not sold separately. To get the tool, you download the full emulator package and extract the small file inside. You can download the latest official binaries for