[D3D12] Failed to create resource for texture

I got this error and in the log it looks like this: Failed to CreateResource (error: 0x80070057)
[D3D12] Failed to create resource for texture [Indirect Light SH]

If someone is experiencing choppy audio and severely low fps after getting this error, a solution that worked for me is in the last paragraph.

The game was out of focus as I was using PoB and before I could login, the game crashed with this error message. I tried opening it again but the game effectively hanged at the GGG logo because it was playing the animation with hiccups and choppy audio very slowly. I had to force-close the game. Tried multiple times, with same result. Frozen screen while game window in focus, animation could be seen choppily progressing only when alt tabbing and game out of focus. Restarting PC didn't help.
Tried verifying integrity of game files, nothing.
Tried updating NVIDIA drivers, didn't help.

Changed render type from DirectX12 to Vulkan in the config file, which helped me get into the game. Audio and video choppiness wasn't as severe but I was getting single digit FPS. I managed to login to a character. Tried switching to DX12 in-game which resulted in a screen freeze, with audio still playing. Tried to change to DX11 in the config file and got less than 1 FPS.

I noticed that in the graphics settings, display was set to Microsoft basic render driver. Turns out the game had somehow fallen back on integrated graphics with an old driver. I had to manually re-install my already up-to-date AMD driver to make the game work normally again.