Do I have space for final draft software

No way for anyone here to know that. Only you can know how much free space you have on your own computer.

Open Finder, on the side panel under locations look for Macintosh HD or whatever you have named your onboard hard drive, click on it once to select it, then hit the command + i keys on your keyboard. It should bring up the info panel, and tell you how much used and free space you have.

click here ➜ Manage storage space on Mac - Apple Support

With that said, Final Draft does not seem to use a lot of storage space, 160MB only, as such unless your Mac is entirely filled up its likely you do have more than enough storage space for it.

click here ➜ Final Draft System Requirements - writersstore.com

Free up storage space - Apple Support

To free up space, delete only user data files ... those you created, copied to your Mac or downloaded. Never delete anything system related. If your data is important to you, copy it to an external disk before deletion.

Apps generally do not take up enough space to be concerned about.

You have to be proactive in this to keep from clogging up your drive. If you have a small drive, 120GB or 250GB class, your space saving task will be harder and require greater vigilance about the amount of data you store on the drive.

How much disk space do you have open?

Keep in mine, you need to keep 15-20% of the disk completely unused at all times or the OS may not run well.

I'd imagine the app doesn't take up a huge amount of space, but data files of this nature often do if they involve images, videos and the like.