All right, I think it is the settings file that is broken and when starting a new game it cannot read it.
You could check the {username}/AppData/locallow/aukustus/Realms of the lost/ (if I recall correctly the path, should be similar) and delete the config.txt file. It should generate it again then when running the game again and can be verified by opening the settings menu again.
If that doesn't work, you could create manually a config.txt file in that location with this content:
{
"Resolution": "1280x720",
"FullScreen": false,
"PostProcessing": true,
"Easing": true,
"FoV": 90.0,
"WeaponSway": true,
"VersionMajor": "Alpha",
"VersionMinor": 6,
"LightFlicker": true
}