Just as in the previous version (4.2.1) DMC 5 wont work on windows 7

The Error is essentially the same D3D11 Swapchain failed

I really hope it can be fixed, the new Resident Evil 2 doesn't have this problem even though it runs on the same engine

Yeah, I have the same problem. The strange thing is that a version of 4.0 (I think it was 4.2.1) did work for me the very first time I launched the game way back in March, but not a single version works anymore. I recall reading somewhere that it has to do with the way the game handles fullscreen mode and that some people actually got it to work by using windowed mode—not even borderless, just ol' windowed mode... I have yet to try that out myself, but even if it does work like that, I don't think I can bring myself to play in windowed mode just to be able to use ReShade.
Now that I think about it, the reason it worked the very first time is probably because the game had launched in windowed mode by default before I went and tinkered with the graphics settings.

It's incredibly frustrating since ReShade works perfectly in all other RE Engine titles (RE7, RE2 Remake) as you said. Luckily DMC5 looks so good out of the box that it doesn't really need ReShade in my opinion, not to mention that it offers the same in-game brightness/gamma calibration tool from the RE2 Remake, which is easily the best I've ever seen in a game.