What do you call "new Ren'Py release" ?
There have been two times four versions of Ren'Py released since June. But there's also the 7.4.5 that can be seen as "new release" due to its rendering change, as well as the 8.x branch and its switch to Python 3.
And also what "don't launch" mean ?
Is there nothing at all that happen ? Is there an error thrown ? Is the game starting then dying by itself ? All this happen and can be qualified as "don't launch".
It totally depend on what you answered above.
The default answer would be to update your video card drivers, but it's just the default answer.
There's also an unknown issue with Windows, that run since a long time on the
general troubleshooting part of the forum. So far it seem to have been fixed by either restoring Windows or updating it, sometimes even just by rebooting. But no one know what effectively cause the problem.
Who's doing something so ridiculous ? If the game use at least one of the many novelties that came with the new versions it would break everything :/