Though the utility may launch and allow you to inspect or change your printers' configuration, upon quitting Apple Printer Utility, it will crash, then will likely hang your Power Macintosh G3 shortly thereafter.
Apple recommend you upgrade and use the latest version of the Apple Printer Utility, v2.2, posted on Apple Software Updates both as a standalone and accompanying LaserWriter 8.5.1.
Note: Apple Printer Utility v1.2 was shipped with LaserWriter 4/600 PS and with LaserWriter 8.2.2.
This article can help you locate the software update mentioned here: