Looks to me like line 1617 is causing the issue:

242.415:0041:0042:err:module:import_dll Loading library OPENGL32.dll (which is needed by L"E:\\SteamLibrary\\steamapps\\common\\People Playground\\UnityPlayer.dll") failed (error c000007b).

0xc000007b error is apparently caused by trying to execute a 32-bit binary from a 64-bit binary. Basically, seems like something is wrong with this particular dll file.

Briefly testing this (same game, same proton version), seems like this is the expected log for loading opengl32.dll:

54467.075:002f:0030:trace:loaddll:load_so_dll Loaded L"C:\\windows\\system32\\OPENGL32.dll" at 0x7a850000: builtin

which is actually loading the dll from an so file under 'steamapps/common/Proton 4.11/dist/lib64/wine/opengl32.dll.so' (when running 4.11 natively in Steam via the compatibility option 'Force the use of a specific Steam Play compatibility tool')

I could recreate a similar error by deleting this file (0x4000000e error instead, but everything else is the same). Notably, running the 'verify integrity' check for that version of proton did not repair this. Neither did uninstalling and reinstalling that version of proton via Steam.

Seems like under 'steamapps/common/Proton [version]' there is a proton_dist.tar that gets extracted into the dist folder (right next to it in the same folder). But, this only happens once and never again even if you uninstall and reinstall this version of proton (the files remain even when 'uninstalled').

Basically, either try manually extracting proton_dist.tar to dist via:

tar -xf proton_dist.tar -C ./dist/

Or, uninstall the Proton version in Steam, then head to 'steamapps/common' and delete the 'Proton [version]' folder that you just uninstalled. Reinstalling should restore the files.

Either that or rebuild from source like a legend :)

Let me know if that works or if we start unlocking new errors.