Is it possible there is a keybind conflict with another program by chance? I don't remember the RTST keybinds but you can find them in the options. I'm on my phone right now or I would go look.

Another thing that came to mind is setting launchpad and RTST to run as admin. I could have swore I've seen a post or two about issues with RTST overlay and not being run as admin. I think they were on Reddit, but I'm not sure.