These greenluma dlls might help.Seems like im having a similar problem. Here's my output_log : https://pastebin.com/uhGzxUGx
I used to play the game from the same pc before 1.4.9. Cant go past the facepunch screen after that. I already turned off my anti-virus and firewall, downloaded the .dlls mentioned above and replaced the existing ones with them just in case but still nothing.
These greenluma dlls might help.
Place them near rust.exe