(For Unreal Gold)

EDIT:

For anyone hunting for a fix, what worked was in a post from 2016 (credits to @HG1995):

First download and install the Oldunreal-Multimedia-Patche (OMP) OMP-UGOLD-V0.2.exe from below:

https://www.oldunreal.com/specialpatches.html

Then download the 227i patch for Unreal Gold:

http://www.oldunreal.com/oldunrealpatches.html

Accept using OpenGL when it launches and asks to choose a video renderer.

Then, add Unreal.exe (I added all executables in case) to exceptions in Data Execution Prevention (Right-click your PC icon -> Properties -> Advanced System Settings -> Advanced -> Performance (click Settings button) -> Data Execution Prevention -> Turn on DEP for all programs and services except those I select.