If the software is in the public domain, it is effectively free of copyright, and you are free to release a derivative work under any license you want. If it's not, you don't have a license to publish any derivative work.
The oldest existing code for Adventure seems to be from 1976, and a lot was added in 1977. In 1976/7, the copyright act of 1976 was not yet in effect (it went in effect in 1978), so the work is still governed by the copyright law of 1905. That copyright law required all works to be published with a copyright notice for it to be governed under copyright law.
If it was published without a copyright notice, the 1976 and 1977 files are now in the public domain. If it was published with a copyright notice, it won't be until 2072/3 until the material enters the public domain.
For later versions of adventure up to 1989 roughly the same goes, but it also retains copyright protection if it was registered within 5 years of publication.
I have seen no direct indication that the original code had a copyright notice when it was first published. However, conflicting with that narrative is the fact that The Software Toolworks payed "a royalty" to the original authors, which suggests that they did believe the work was copyright protected. One would assume they checked. On the third hand, many others, among which Microsoft, have published Adventure, and according to lore never payed anyone any royalties. On would assume they checked as well.
It is unclear what the exact deal was between The Software Toolworks and Crowther and Woods; whether it consisted of a transfer of copyright - if there even was eligible copyright protection - or that they licensed the work to them.
Crowther and Woods are both still very much alive, and the best way to get certainty about the whole deal is to ask them (and, obligatory, your lawyer, which I am not).