To summarise all the solutions in the posts linked above:
- Make sure you have Vulkan installed. Yes, someone actually posted when the answer to their problem was in the error description.
- Downgrade to an older version of UE, 5.5.3 works, some people reported 5.5.4 working (not recommended).
- Change “TargetedRHIs” in DefaultEngine.ini from “SF_VULKAN_SM6” to “SF_VULKAN_SM5” (recommended).
- Manually update your graphics card drivers to the latest version, rather than the OS distributed package version.
The last solution is probably best from the point of view of getting the most out of UE, BUT will introduce an extra amount of OS maintenance and, if you are developing a game, will conceivably require everyone who wants to play your game to do the same.