Windows 7, the fake error pop up, I managed to remove it.

To do, for v.1.33, open a HEX editor on "bin/riftbreaker_win_release.exe," go to the offset 0xF09 (the line "0085C07522448D") and change 75 to EB, the fake no more. The real issue it seems that system 32-bit "dxgi.dll" and especially "ntdll.dll" files do not work properly, a real error. I tried to put from updated Windows 8.1, old Windows 10 (1803) and the latest Windows 10, no luck: "dxgi.dll" errors did disappear, "ntdll.dll" not. I am not into DLLs, maybe I am missing something. The game uses DirectX 11 and does run on Windows 8.1, hopefully it can be made to run.

Pure Windows 7
riftbreaker_win_release.exe - Entry Point Not Found
The procedure entry point CreateDXGIFactory2 could not be located in the dynamic link library dxgi.dll.

With Windows 8.1's DLLs
riftbreaker_win_release.exe - Entry Point Not Found
The procedure entry point RtlUnsubscribeWnfStateChangeNotification could not be located in the dynamic link library ntdll.dll.

With Windows 10's
riftbreaker_win_release.exe - Entry Point Not Found
The procedure entry point NtQueryWnfStateData could not be located in the dynamic link library ntdll.dll.

I have a good reason to believe there are users more skillful and knowledgeable in the subject than me and might see the solution to the problem at hand and patch it. Step by step, any long path can be crossed.

How about trying to run in under the DirectX-to-Vulkan open source wrapper, will it help? Just drop the project's dxgi.dll & d3d12.dll near the main EXE, maybe will resolve.

github.com/GloriousEggroll/proton-ge-custom/