I am also experiencing this, same as OP, I try to launch, I get a flash of red over the screen and it crashes to the Apple Report, this is either through the Steam launch or the Desktop launch.
Running OS Monterey 12.3.1, iMac Late 2015, 4 GHz Quad-Core Intel i&, 32GB 1867 Mhz DDR3. AMD Radeon R9 M395X 4 GB
Date/Time: 2022-05-11 20:23:16.8072 -0700
OS Version: macOS 12.3.1 (21E258)
Report Version: 12
Anonymous UUID: 7B1AC4D4-9E4E-7A67-E473-A99CD2D88029
Sleep/Wake UUID: 12D8C122-3511-4367-8B81-43FD54120572
Time Awake Since Boot: 700000 seconds
Time Since Wake: 38033 seconds
System Integrity Protection: enabled
Crashed Thread: 0 MainThrd Dispatch queue: com.apple.main-thread
Exception Type: EXC_CRASH (SIGKILL)
Exception Codes: 0x0000000000000000, 0x0000000000000000
Exception Note: EXC_CORPSE_NOTIFY
Termination Reason: Namespace DYLD, Code 9
file does not start with MH_MAGIC[_64]: 0x0000E6B0 0x01000007
Application Specific Information:
file does not start with MH_MAGIC[_64]: 0x0000E6B0 0x01000007