I also had a similar problem with SpecialK in relation to P5 Strikers.
The first boot up before a dxgi.ini file is generated is smooth. Well, sort of. The game opens in an invisible state (or maybe the window is created in a specific space outside of the Windows desktop, I don’t know the specifics) and you have to Alt+Enter a couple of times in order to make it appear and activate the Fullscreen Mode.
The thing is that after a bit of initial setup (not much really) and closing the game, it would refuse to boot up again.
After a bit of trial and error, I noticed that the game was crashing because on my end, the parameter “SwapChainWait” was modified from its default value of 0, to 15.
Once I set that back to 0 and activated the Read-only property my dxgi.dll file (just to be safe), the game booted up normally every single time.
I’m using the latest stable version of SpecialK downloaded from here, for reference.
I registered in this forum and I wrote this post for the posterity, in case it can be helpful to someone down the road.