This is for Windows 11, but may work in other versions. If you don't want to install any extra software/mods like some are suggesting this is how to get it to run.

Launch the nglide settings tool - either located in the folder \\The Wheel of Time\system\ or via the GoG launcher next to the 'play' button there is another menu with two sliders on it, you will find an option for additional executables, scroll down to nglide settings and launch.

Change the Video Backend to 'Vulkan'
and the Screen Resolution to 'by desktop'

press apply.

Then launch the DirectX settings tool - either located in the folder \\The Wheel of Time\system\ or via the GoG launcher next to the 'play' button there is another menu with two sliders on it, you will find an option for additional executables, scroll down to the DirectX settings and launch.

Change the Presentation to 'Windowed'

press save.

Launch game in 3dFX mode

In "windowed" the game is extremely dark, looks really bad, unplayable. And the brightness slider doesn't work. Also the resolution in 3dFX is very low.
Nobody would want to play the game like that.
Much better with Direct11 Renderer...with 4k resolution and perfect brightness.

To run a game without installing any additional software or mods on Windows 11, follow these steps:

Ensure your Windows 11 operating system is up to date.
Check the system requirements of the game to ensure compatibility.
Disable any unnecessary background processes or applications to free up system resources.
Close any resource-intensive programs running in the background.
Adjust the game's graphics settings to optimize performance.
Run the game in compatibility mode if needed.
Update your graphics drivers to the latest version.
Restart your computer before launching the game to ensure a fresh start.
Launch the game and enjoy playing without the need for extra software or mods.