I have the same problem with 1.2 on Catalina. The "unidentified developer" message is something different. I get that too with other apps and know how to fix it. It's not that.
There is no video I can send you. The app doesn't start. I get an error message, which is in German and says exactly what UnoTheCard already posted. It includes a button with a question mark. If I click that button, I get to the explanation telling me "The app has been modified and its code differs from the original signed code." My machine is a mid-2012 MacBook Pro Retina running Catalina. Hope that helps.
Oh, I see! Since I'd given UniTheCard a solution, I had misread and assumed that you were talking about the visual glitching they also reported.
Launching the game through the Itch app should get you up and running. Alternatively, using the xattr command line tool with -cr flags on Hive Time.app should make it behave, but if you're not familiar with working in a terminal, that's likely to be fiddly.
Sorry for the mixup!