I had this issue to and was able to fix it by making a shortcut to the games exe.
Right click it then go to properties, then under target add a space next to the end " and add --rendering-driver opengl3
so the shortcut should look something like this
"C:\Users\YourUserName\Desktop\Poppy Playtime - Chapter 0.exe" --rendering-driver opengl3
Game should look normal afterwards. Hope this helps