Open GL 2.0 or Above is required

Your only choice is to use Software OpenGL. This will likely only work if you use the portable version as it wants to rename a file in its program folder on startup, which installed and store versions typically do not have permission to do. You can get information on how to edit the registry to invoke software here:

You can also go into the installed program files for Shotcut as administrator and simply rename opengl32sw.dll as opengl32.dll