The Port Royale 3 seems to be unplayable on Windows 11, integrated Intel Xe Graphics. On naval map it is all OK, but once I switch to any town, I see no textures at all. The exactly the same issue is in steam an in gog version

Solved.
I'm not sure if links to other sites are allowed here, so I'll just hint - if you have the same problems, get files msvcp70.dll, msvcr70.dll and unicows.dll from steam proton and put them into the PR3 game folder

edit: it is also important to have intel drivers directly from intel, not the ones provided by microsoft update service (microsoft might even replace directly installed drivers with the windows update occasionally without asking)

Edit2: sorry for confusing you. The files from proton project are not needed after all, the windows update was messing up with me. The real solution is only the correct version of Intel driver, but the windows update will mess up with you, without any notice.

Steps to fix this issue:

1) install latest drivers directly from intel pages
Only the drivers are needed from the package, you can un-check everything else

2) disable the update of intel GK drivers in MS update, using wushowhide.diagcab tool - in the hide updates section, look for "Intel Corporation - Display - [old version number]

3) restart computer