I haven't seen this problem before.
There are a few solutions that generally solve everything:
1. Install DirectX and Visual C++ components from this folder manually, go to this folder -
"...Steam\steamapps\common\City Car Driving\_CommonRedist\" and install all the components from there.
In some cases this folder can be located in a different place - "... Steam\steamapps\common\Steamworks Shared".
2. Update your video card driver to the latest version from your video card manufacturer's website.
3. Update your sound card driver to the latest version from your sound card manufacturer's website.
4. If you're using a racing wheel (or any other controller), update its driver to the latest version from your controller manufacturer's website.
5. Turn off any antivirus or firewall software.
6. Check the game cache integrity in Steam client.
7. Turn off the Steam cloud profile synchronization for City Car Driving – open your Steam client, click on City Car Driving with right mouse button and choose “Properties” from the context menu. Then open the tab “Updates” and there turn off the option “Enable Steam Cloud synchronization for City Car Driving”.
8. Delete the folder "Forward Development" from your "My Documents" folder.
Then run the game again.