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Try doing this!

1) Go into the folder and find GameUserSettings.ini DamselRace0.17.96\Windows\DamselRace\Saved\Config\Windows is where I see it for the latest version
2) Change settings to what you like in the INI and save. This should change the settings. When I set all my settings to low at the lowest resolution I have avaialbe for customization these are the settings I have, though feel free to tweak if you know what your doing.  Hope this helps! Let me know!

[ScalabilityGroups] 
sg.ResolutionQuality=50 
sg.ViewDistanceQuality=0 
sg.AntiAliasingQuality=0 
sg.ShadowQuality=0 
sg.GlobalIlluminationQuality=0 
sg.ReflectionQuality=0 
sg.PostProcessQuality=0 
sg.TextureQuality=0 
sg.EffectsQuality=0 
sg.FoliageQuality=0 
sg.ShadingQuality=0 
sg.LandscapeQuality=0 
[/Script/Engine.GameUserSettings] 
bUseVSync=False 
bUseDynamicResolution=False 
ResolutionSizeX=1280 
ResolutionSizeY=720 
LastUserConfirmedResolutionSizeX=1280 
LastUserConfirmedResolutionSizeY=720
WindowPosX=-1 
WindowPosY=-1 
FullscreenMode=2 
LastConfirmedFullscreenMode=2 
PreferredFullscreenMode=1 
Version=5 
AudioQualityLevel=0 
LastConfirmedAudioQualityLevel=0 
FrameRateLimit=0.000000 
DesiredScreenWidth=1280 
bUseDesiredScreenHeight=False
DesiredScreenHeight=720 
LastUserConfirmedDesiredScreenWidth=1280 
LastUserConfirmedDesiredScreenHeight=720 
LastRecommendedScreenWidth=-1.000000 
LastRecommendedScreenHeight=-1.000000 
LastCPUBenchmarkResult=-1.000000 
LastGPUBenchmarkResult=-1.000000
LastGPUBenchmarkMultiplier=1.000000
bUseHDRDisplayOutput=False
HDRDisplayOutputNits=1000