When you launch Steam, do the following:

1. Open the Task Manager
   
2. Navigate to the Details section
   
3. Find Steam.exe and right click on it
   
4. Click on "Set Affinity"
   
5. Un-check "All Processors" and then check the first 8 or so "CPU" starting with 0
   
6. Click Ok, and then try launching the game.

It should now launch without issue.
Note that if you "Exit" steam, it will reset any affinity changes that were made.