This is the v22.6 version recently made available on GoG.
Note! I have deleted the Xenonatus 2 folder under My Games before trying to load the game.
I get past the initial loading screen and into the main menu.
I made a single change to settings: Lowering the general sound volume.
I then choose New Game
I accept the default settings on the next screen
The game then gets stuck at 5% on the next screen that says "Loading" + I forget the exact wording + "Day 1". (By stuck, I mean I waited 10 minutes before giving up)
The only way to get control of the PC back is to hit Ctrl-Alt-Del and select Logout User (or restart the machine, of course)
HW info:
6 core i7, 64GB RAM, GeForce GTX 970, 2560x1440 resolution