We think your game has got a corrupted shader in your local shader cache. Can’t tell which one though, so I want to delete them all. Don’t have your game running while you do this.
We want to find your local shader cache. It will be in your Steam install folder, not necessarily where Evolve is installed. On my system, the path is:
C:\Program Files (x86)\Steam\userdata\xxxxxxxx\273350\local\USER
The part I’ve redacted with “xxxxxxxx” is my Steam user ID. Hopefully it will be easy to figure out what it is on your account. Open that folder.
There should be a folder named Shaders. Delete it.
Run the game, see what happens.