Game crashes on normal launch

If I launch the game normally through Steam, it crashes to desktop silently.

If I launch the game by the executable manually, running as admin, it hangs on the Facepunch logo.

Any tips?

Windows 11 Pro
AMD Ryzen R9
32 GB RAM
NVIDIA RTX 4080

Edit:
Fresh install, now I crash with _DOVK(): OUT OF VIDEO MEMORY! ( vmaAllocateMemory ) which is strange, as I have 16 GB VRAM. 

Mystery solved, page file

I had disabled page file some time ago to be able to do a dramatic shrinking of system partition, and despite having 32 GB RAM and 16 GB VRAM available, things break without a page file ... turning it back on under Advanced System Settings resolved 

i dont have any paging files enabled at all on my windows 11. and i have never gotten this issue in sbox

are you by any chance starting the game up in vulkan? instead of dx12?

I hadn't switched renderer off of whatever default is

Edit: Got a minute to check, yep it defaulted to Vulkan