I've recently tried ReShade 3.1.0, and 3.1.1 with the new updated version of Street Fighter 5 (on Steam, of course), namely the Arcade Edition.
Prior to that game update, I was using ReShade 3.1.0 with it, and it worked fine. However, after the new update now whenever I try to run the game with or even without mods directly from Steam as normal then I get an error window.
The error says something like " UE4 KiwiGame Crash " with " Fatal Error " under, followed by a bunch of lines and codes, etc. I want to stress that I never had that error before, even while using ReShade 3.1.0.
So, why posting this here specifically then?
Well, because after trying multiple things to fix that error, I finally figured out that simply removing all the ReShade files from the SFV Binaries folder fixed the problem, and the game launches just fine. I repeated this a couple of times, and every time I then removed ReShade then the game worked. So indeed, it seems that now ReShade (both versions 3.1.0, and 3.1.1) do not work, or cause a conflict with the latest version of Street Fighter 5.
I wanted to point at this just in case someone qualified for it can investigate to see if indeed there's a conflict now.
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