The developers have now responded and said they are aware of the issue but put the blame at the feet of Steam and EAC, claiming that is affecting a number of different titles and not just New World.
The error itself looks and reads like this:
"Untrusted system file (C:\Program Files (x86)\Steam\steamclient64.dll)"
In a post on the game's official subreddit discussing the issue, a moderator said:
"I know this is annoying however just be aware this is not an issue with New World but a EAC issue that is effecting multiple titles that use EAC and Steam (sic)."
Thankfully, there is a fix that many players have now tested to have worked and will get you back into New World and back questing in Aeterneum in no time.
The fix is relatively simple and takes replacing just one file within your Steam directory.
It was discovered by Reddit user Phantom13, who realised that his "steamclient64.dll" was larger than his friend who was not having issues with the game. His friend sent over his file and by replacing it, he was able to get the game to work.
He also offered up the file via Google Drive and suggested anyone who has had an issue to try it.
His reply quickly rocketed to the top of the thread and many players have reported that they can get into the game.
To make sure it works, replace the .dll file while Steam is open.
Turning Steam off and trying it will force the client to update again and you will be back to where you started.
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Featured image via Amazon Games.