Penumbra Collection "Preparing to launch crash" on steam.

[jens]

Isn't that a Steam problem? If it crashes during preparing to launch then the game has not even started to launch as far as I know, so perhaps check Steam for best support. Maybe it is a permission problem or something similar, so try to launch the game directly as an admin or run a file integrity check on the game in Steam to make sure all files are as they should.