I'm having the exact same behavior. Downloaded archive & Installer from GoogleDrive link; it passes CRC/hash. Installer runs fine. Updater seemingly worked as it ran through like 120 files/steps in the progress bar at the bottom left.
When I press "Launch" on the Skylords launcher though I immediately get the same error as the OP above. I'm most suprised because I played your beta on this machine/windows install in 2018 without any problem!
I've tried updating drivers, compatibility mode, run Skylords & Battleforge .exe's as admin, suggested DX9/noAA edits to Documents\Battleforge\config, delete Documents\Battleforge entirely (with no change, so it must be stumbling pretty early in the launch process. The folder is NOT regenerated.)
Win 10 Pro
No antivirus other than Windows Defender
i7-6700K (4C/8T) / Geforce GTX 1080 / 32GB RAM