I'm on Windows 11 and it works fine for me, with the Itch.IO launcher. My friend is having the same issue you all are, on Windows 11, similar spec laptops. I tried manually downloading my copy of the game, throwing it on a thumb drive, and it launched fine on my friend's computer off the thumb drive. Once I copied the game to the hard disk (literally just copy/paste) it threw this error. I have NO idea what that means, but food for thought
Maybe try putting the game on a USB and see if it launches? If anyone still has one these days.