Only mods installed:
Complex 9.1 for hm2 classic.
Complex 11 for hm2rm.

Mod folder was emptied before downloading the new version as instructed by the mod info.
It's a new game install of 3 days and I haven't been able to launch either complex 10.5.7 nor 11.

A match can be started without problems if the mod is disabled and a game can also be started fine with complex 9.1

Output from hwrm.log:

Tue Jun 06 23:58:30 2017
Version 2.1, Build Number 31, Changelist Number 1237961
Loaded Archive: 'Homeworld2.big'
Failed to Load Archive '..\..\DATAUPDATES\UpdateHomeworld2.big'
Loaded Archive: 'HW1Ships.big'
Failed to Load Archive '..\..\DATAUPDATES\UpdateHW1Ships.big'
Loaded Archive: 'HW2Ships.big'
Failed to Load Archive '..\..\DATAUPDATES\UpdateHW2Ships.big'
Loaded Archive: 'HWBackgrounds.big'
Failed to Load Archive '..\..\DATAUPDATES\UpdateHWBackgrounds.big'
UTIL -- filepath failure, path doesn't exists 'D:\Steam Games\steamapps\common\Homeworld\HomeworldRM\data\locale\English'
Loaded Archive: 'English.big'
Failed to Load Archive '..\..\DATAUPDATES\UpdateEnglish.big'
Failed to Load Archive '..\..\DATAUPDATES\Compatibility.big'
Loaded Archive: '76561197994692758\398406822\Complex11.big'
Loaded Archive: '76561197994692758\398406822\English.big'
Uing ..profiles\ for profiles folder
GAME -- Using player profile Xeonzs
Changing from a 32 bit colour depth in winNT (6.2 build 9200),
Display: (0, 0, 1920, 1080) - (0, 0)
Switching to a 1920x1080 32bit mode
GL Info: 4.5 - 4.5.0 NVIDIA 382.05
GL Vendor: NVIDIA Corporation
GL Renderer: GeForce GTX 970/PCIe/SSE2
GL Part ID: 970
GL Part EX: /PCIe/SSE2
Loaded Archive: 'EnglishSpeech.big'
Failed to Load Archive '..\..\DATAUPDATES\UpdateEnglishSpeech.big'
Loaded Archive: 'Music.big'
Failed to Load Archive '..\..\DATAUPDATES\UpdateMusic.big'
SOUND -- created destination [ fdaudio ], handle [ 4 ] with [ 48 ] channels created
SOUND -- created destination [ fda streamer ], handle [ 5 ] with [ 8 ] channels created
SOUND -- created destination [ dxa streamer ], handle [ 0 ] with [ 8 ] channels created
SOUND -- created destination [ dxaudio ], handle [ 1 ] with [ 48 ] channels created
Build name:
Data path : D:\Steam Games\steamapps\common\Homeworld\HomeworldRM\data
Font Load: data:UI\Font\Blender.rcf, 1920,1080
Font Attr: 14, Biu
Resetting fp PC control word.
CmdLine: -workshopmod 76561197994692758\398406822\Complex11.big
4 Races Discovered
Race Filtering: DEATHMATCHHWC rules - @deathmatchHWC
Starting Level: DATA:\LevelData\Multiplayer\deathmatchHWC\warsforterritories.level
Restoring video mode
Display: (0, 0, 100, 100) - (8, 31)

Edit:
Resolution:
After googling for CTD causes I managed to find a unlikely fix but it worked for me:
Make a profile for homeworldrm.exe in nVidia control panel.
Now I can play without issues :)