I was asked to identity v community, then they said, "on a pc, please find a solution yourself, we can't apologize for this inconvinience for this pc crash issue".
If game is not launching, then you should check log0.txt file in game folder near dwrg.exe. In that folder every launch problem and errors will be stored.
For me the reason is :
M [COCOSUI] [WARNING] D3D11CreateDevice Failed. Error code 0x80070057, feature_level 1
M [COCOSUI] [WARNING] D3D11CreateDevice Failed. Error code 0x887a0004, feature_level 2
M [COCOSUI] [WARNING] D3D11CreateDevice Failed. Error code 0x887a0004, feature_level 3
M [COCOSUI] [INFO] "Graphic Card Donot Support Direct3D 11, Feature Level Is:40960"
M [COCOSUI] [ERROR] neox::device:3D11Device::Initialize: "failed to create d3d11 device"
For me this errors means i don't have directx 11 graphic card and that's true! My graphic card is directx 10. I installed PC version Identity V on 2018/8/11 and played till 2021/2/28, my game was worked fine until march and april update came. The game is stopped opening when new hunter "broken wheel" update came. Whenever i open dwrg.exe as administrators it shows in task manager and it disappears within 15 seconds. So game will no longer supports or run on directx 9 and 10 graphics cards which means people that played on PC version with directx 9, 10 will no longer play it on their PC . For me it's fine because i already decided to leave this game forever because lately Identity V started to change too much in survivor sided game and i only wanted to play as new hunter "Broken Wheel" before leaving this game. But i don't need to care this game anymore and i'm free . Bye Identity V!! It was fun playing for 3 years on PC version! For those who have directx 9,and 10 cards i suggest you to buy good pc and directx 11 and 12 graphic cards and play Identity V on your PC without any launching problems.
Try reinstalling it but without uninstalling the old version. Lori Desu said: "a small window will appear that will say the following "You already have the version (the current one) do you want to uninstall the game?" to what you will say NO, they seek the fate of the game and accept it as if nothing happened.
Once it is reinstalled and the uptade is downloaded the game will open itself again and will work, in case it does not work you have to repeat the process until it works." hope it works
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Post time 2021-4-5 12:30:20
3D11Device::Initialize: "failed to create d3d11 device"
. For me it's fine because i already decided to leave this game forever because lately Identity V started to change too much in survivor sided game and i only wanted to play as new hunter "Broken Wheel" before leaving this game. But i don't need to care this game anymore
and i'm free 
. Bye Identity V!! It was fun playing for 3 years on PC version! For those who have directx 9,and 10 cards i suggest you to buy good pc and directx 11 and 12 graphic cards and play Identity V on your PC without any launching problems.