As best I can tell, it has to do with recent update to UE4 build affecting DirectX with win7 users, and some with nvidia on win8/10. That is why the last version of game still works, as it was built with older UE4. Copying dxgi.dll from windows/system32 to the game folder won't work.
Found a workaround:
1. Download
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2. EXTRACT THE CONTENTS OF THE EXE WITH WINRAR OR 7ZIP, DONT ACTUALLY RUN THE EXE.
3. Extract ReShade64.dll
4. Rename ReShade64.dll to dxgi.dll
5. Place it in the \LastHopeV12.0\Engine\Binaries\Win64
\ folder
Credit goes to my Googling and finding similar problem in another game
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