Launching LiF:YO from Steam. Steam status is updated and showing that game is 'Running', but you can't see any LiF:YO window or crash report or loading screen.
1. Missing C++ 2015 redistributable or issue during installation. Please follow this article for troubleshooting
2. Your system has a newer C++ redistributable version. For example (actual information for 26.09.2016). Steam providing C++ 2015x86 version 14.0.24210. You might have 14.0.24212 installed already.
Manually replace file provided by Steam \_CommonRedist\vcredist\2015\vc_redist.x86.exe with the newest one. _24212 and _24215 were added manually. It might be required to remove these additions manually.