[Resolved. See my Update 3]

All:

It seems that after disabling GOG Galaxy overlay I was able to play the game ... for a while at least. However, the game hard freezes my system after 30 to 60 minutes of gameplay. My system is:
CUP: AMD 1700X
Graphic: AMD 5700 XT with the latest driver (20.5.1) without OC
OS: Win 10 latest
RAM: 16GBs
I don't know the cause whether it is my system, AMD graphic driver, a bug in the game, or something else. Does anyone experience the same thing on a similar system? Any suggestion or recommend in-game settings of the game for AMD's graphic card is more than welcome.

Update 1: Some of you may think the OC or heat is an issue. I used MSI Afterburner (not to overclock) to display the information on CPU and GPU status. When the system and the game freeze, the temperatures of both CPU and GPU don't seem to be an issue. GPU usually was between 55 to 65 degree C, and CPU was between 50 to 60 degree C.

Update 2: These 2 changes seem to reduce game freeze enough for me to play until reaching the lighthouse. Then, the game would instant freeze.
1. Turning off features in AMD drivers. The following are my settings that helped (somewhat).
Open Radeon Software, Go to Gaming > Global Graphics, and turn off most features.
Radeon Anti-Log: Off
Radeon Chill: Enabled (I leave it on because it does not seem to hurt/help)
Radeon Boost: Off
Radeon Image Sharpening: Off
Radeon Enhanced Sync: Enabled (I leave the 'freesync' on)
Advanced:
Anti-Aliasing: Use application settings
Anti-Aliasing Method: Multisampling
Morphological Anti-Aliasing: Disabled
Anisotropic Filtering: Disabled
Texture Filtering Quality: Performance
Surface Format Optimization: Enabled
Tessellation Mode: Use application settings
OpenGL Triple Buffering: Disabled
10-Bit Pixel Format: Disabled
2. Lower in-game graphic to Normal or Low

Update 3: Now I finally found a way to make the game work without any freeze and would only crash if I had played the game for more than 10 hours. I have even increase graphic detail from Normal to Ultra or Extreme. The solution is to close any application that uses GPU with the exception of two windows apps.
Open Task Manager, and under Processes tab, pan right to GPU engine column and close any app that uses GPU 0 - 3D. This will include your browser and GOG Galaxy. The only two you cannot close are windows built-in apps: Desktop Window Manager and Client Server Runtime Process. After closing those apps, my game was running at 250+ fps, so I decided to increase the in-game graphic to Ultra. The downsides are first I don't get stats for the game and second I get no in-game achievement.

I had to disable the overaly also. And, had one hard freeze. Been fine since. Running Ryzen 3600 and a 5700XT. Try reinstalling the drivers with the clean install option selected. I'm also running the new Win10 2004.

Can confirm. Overlay crashed it for me on startup. Disabling overlay fixed the problem.

Could it be due to a system overheat if not the overlay? I've read some people experienced the game taxing their system and overheating it, causing freezes and crashes.

I've had two crashes myself but can't pinpoint the exact reason, other than I had some stuff running in the background that could have taken up too many resources.

Definitely not in my case. I couldn't boot the game after I had just installed it. The fans on the card weren't even at high speeds yet. After turning off overlay, no problem and I can play for hours straight.

I'm glad to hear its working now!

I had just started gog and the game on a fresh install of the game, and it crashed every time I tried to start it, which is why I came here lol.

Once I turned off Gog overlay, it loaded no problem and ran fine.