I think it may be bcs of the shader model, bcs it seems to not work with shader model 5.0. You can see what shader model u have where it says D3D_SM50 on top of the screen when you are in
the preview, which is shader model 5.0, I saw that people on youtube who did have shaders enabled had D3D_SM65, which is shader model 6.5. I also have the same problem bcs I have a DirectX 11.2 GPU.
And also it seem that for some reason your GPU Intel UHD Graphics is not using DirectX 12 for rendering its is using DirectX 11, in the debug text is says D3D11 if it was rendering in DirectX 12, than it should say D3D12.