Following your advice, I went to my computer manufacturer's website (Lenovo) and found a Realtek audio driver for my machine (IdeaPad Y580). After installing it and removing the old one, however, Smode Studio still immediately crashed. As a side effect, my general audio quality was poor compared to my original driver. I restored my original audio driver.
I updated my Nvidia GPU driver and my Intel CPU driver to the latest versions for Windows 10. The Nvidia driver update removed the "NVIDIA Virtual Audio Device", so that is no longer a problem. The Intel driver updated the "Intel(R) Display Audio", which will also crash Smode Studio if the device is enabled.
Something interesting has happened though: I disabled both audio devices which allowed me to start Smode Studio. After it is running, I can enable my audio devices to get sound again. Smode Studio will also allow me to select "DirectSound". However, if I restart Smode Studio with "DirectSound" or even with "Null Audio" selected and applied, the program will immediately crash again unless I disable my audio devices first.
Here is where it became interesting: as soon as I select and apply the "ASIO" setting for "Audio Output", it will crash and make a larger dump file.
Is it possible that the "Generic Low Latency ASIO Driver" is causing all of the crashes? Even though Smode Studio's engine configuration file says: 'deviceType = "Null Audio"', is it possible that the program is still automatically selecting the ASIO driver when it starts, and then crashing?
I will send an email to firstname.lastname@example.org with the title "Dumps from Realtek and ASIO - James R." that will contain the dumps from the Realtek driver, the dump from selecting ASIO, and also the configuration files. Please let me know what else I can do to help. Thank you very much!