Since you are using the Steam Edition of ACL 2017, have you tried contacting their support team to ask about your problem? I suspect that in this case Magix Support may not be able to help you because you have that edition.
One thing you might consider: you say you uninstalled and then reinstalled. It is highly likely that the uninstall did not remove everything from the previous installation, because some files, folders and registry entries etc., are created on first and subsequent runs of the software and so are unknown to the built-in uninstaller. In such situations we tend to advise using something like the free Revo Uninstaller to ensure everything connected with the program is fully removed - just make sure you check carefully ALL the additional files, folders and registry entries it says it is going to remove, especially if you have any other Magix software installed on your computer.
Once the uninstall is completed, reboot the computer and attempt the reinstall.
Was able to relaunch ... was going to try the solution you mentioned. But then thought to verify which graphic cards was using to launch ... it was using my Nvidia one , switched to Integrated Graphics and program launched successfully.