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I hope it's okay for me to share this here.
I've been trying to find a good solution for this, and I came up with a little patcher that should work around the issue without you having to use a Powershell or third party apps to run the game (Click on "AlderLakePatch.zip" to download):
https//github.com/LazyDuchess/AlderLakePatcher/releases
It's completely open source.
I'm hoping this method actually solves the issue with the added benefit of not needing a custom launcher or third party app, but I'm not able to test it as I don't own affected hardware. All you have to do is extract the .zip, launch the patcher and locate your TS3.exe if you're on 1.69 or TS3W.exe if you're on 1.67, it should then patch the game and make a backup for you.
As puzzlezaddict mentioned earlier, you can find your game's executables on the program files folder:
Program Files\EA Games\The Sims 3\Game\Bin
Program Files (x86)\Origin Games\The Sims 3\Game\Bin
Program Files (x86)\Electronic Arts\The Sims 3\Game\Bin
Program Files (x86)\Steam\steamapps\common\The Sims 3\Game\Bin"
This one? Sorry I'm kinda slow.