Wiping your Transience save files solves LowLevelFatalError launch issue. Also allows you to restart from complete scratch.

Step 1: Disable Steam Cloud for Transience.

• Locate Transience in your Steam library.
• Right click > Properties
• Disable Steam Cloud

Step 2: Delete AppData/Local/HyperAware/Saved folder

• Press Win + R and type "AppData"
• Open the "Local" folder.
• Locate and open the "HyperAware" folder.
• Delete the "Saved" folder.

Step 3: Boot the game

• Reboot the game and you should find yourself at the startup process again.

Step 4 (Optional): Re-enable Steam Cloud

• Only do this after you've reopened the game and closed it again.