Overlay is missing in Borderlands 3 with DX12 renderer

Log output for DX12 mode:

[00:21:54.157][PID 2428] Running overlay host process

[00:21:54.163][PID 2428] Connecting overlay to 16148

[00:21:54.163][PID 2428] Requesting creation of overlay renderer for 16148

[00:21:54.164][PID16148] Starting graphics hook in process D:\Games\Steam\steamapps\common\Borderlands 3\OakGame\Binaries\Win64\Borderlands3.exe

[00:21:54.164][PID16148] CMipMap::CMipMap - offset = E85C, address = 00007FFB2724E85C

[00:21:54.210][PID16148] Hooked D3D9

[00:21:54.259][PID16148] Hooked DXGI

[00:21:54.302][PID16148] Hooked OpenGL

[00:21:54.442][PID 2428] Log source connected [PID18120]

[00:00:00.123][PID18120] Overlay host process started

[00:21:55.164][PID18120] Creating overlay renderer for 16148

[00:21:55.181][PID18120] Connecting overlay to 16148

[00:21:55.329][PID 2428] Log source connected [PID22880]

[00:00:00.033][PID22880] Connecting overlay to 16148

[00:21:55.330][PID18120] Overlay renderer for 16148 started successfully.

[00:22:04.945][PID16148] D3D1XState::InitDevice12: using queue 000000001E40A2B0 for device 000000001E34DE70

[00:22:04.946][PID16148] InitDevice12 finished with device 000000001E34DE70

[00:22:04.949][PID16148] D3D1XState::InitOverlay12: initialized to 000000001E34DE70 (D3D12, window 000000000011122A: 1920x1080)

[00:22:04.955][PID18120] Resizing overlay renderer to 1920x1080

[00:23:24.470][PID 2428] Log source disconnected [PID16148]

[00:23:24.470][PID 2428] Requesting destruction of overlay renderer for 16148

[00:23:24.471][PID18120] Destroying overlay renderer for 16148

[00:23:24.479][PID 2428] Log source disconnected [PID22880]

[00:23:26.524][PID 2428] Log source disconnected [PID18120]

[00:23:26.528][PID 2428] Host process exited with code 0

[00:23:28.529][PID 2428] Running overlay host process

[00:23:28.807][PID 2428] Log source connected [PID26800]

[00:00:00.121][PID26800] Overlay host process started

[00:23:29.180][PID 2428] Terminating overlay host process

[00:23:29.188][PID 2428] Log source disconnected [PID26800]

[00:23:34.309][PID 2428] Log source connected [PID24516]

[00:00:00.002][PID24516] hook_thread started

[00:00:00.002][PID24516] Process name: D:\Games\Steam\steamapps\common\Borderlands 3\OakGame\Binaries\Win64\Borderlands3.exe

[00:23:34.311][PID 2428] InjectLibraryNormal: process has been alive for 5791.7 ms

Log output for DX11 mode:

[00:23:34.335][PID 2428] Running overlay host process

[00:23:34.341][PID 2428] Connecting overlay to 24516

[00:23:34.341][PID 2428] Requesting creation of overlay renderer for 24516

[00:23:34.342][PID24516] Starting graphics hook in process D:\Games\Steam\steamapps\common\Borderlands 3\OakGame\Binaries\Win64\Borderlands3.exe

[00:23:34.342][PID24516] CMipMap::CMipMap - offset = E85C, address = 00007FFB2724E85C

[00:23:34.384][PID24516] Hooked D3D9

[00:23:34.444][PID24516] Hooked DXGI

[00:23:34.486][PID24516] Hooked OpenGL

[00:23:34.610][PID 2428] Log source connected [PID25076]

[00:00:00.120][PID25076] Overlay host process started

[00:23:35.342][PID25076] Creating overlay renderer for 24516

[00:23:35.358][PID25076] Connecting overlay to 24516

[00:23:35.508][PID 2428] Log source connected [PID26704]

[00:00:00.033][PID26704] Connecting overlay to 24516

[00:23:35.509][PID25076] Overlay renderer for 24516 started successfully.

[00:23:45.692][PID24516] D3D1XState::InitOverlay11: initialized to 000000002577C998 (D3D11, window 0000000000161192: 1920x1080)

[00:23:45.698][PID25076] Resizing overlay renderer to 1920x1080

[00:23:45.999][PID 2428] Log source disconnected [PID26704]

[00:23:58.360][PID25076] OverlayRenderer[24516]: [BUILD INFO] Release Channel: stable, Build Number: 62780, Version Hash: bd33cff62e222e193212e85d1e4088ad35555c6d

[00:23:58.648][PID25076] OverlayRenderer[24516]: [NATIVE INFO] host 0.0.306, modules:

[00:23:58.773][PID25076] OverlayRenderer[24516]: T[Spellchecker]
font-weight: bold;
color: purple;
Switching to en-US (available)

[00:23:58.777][PID25076] Overlay is ready to show

[00:23:58.799][PID24516] HandleSetDrawingState: Updating state to 'Overlay' (was 'Initialize')

[00:23:59.248][PID 2428] Log source connected [PID 8008]

[00:00:00.000][PID 8008] Connecting overlay to 24516

[00:23:59.249][PID25076] Resizing overlay renderer to 1920x1080

[00:23:59.265][PID25076] OverlayRenderer[24516]: Uncaught (in promise) Error: Error invoking remote method 'DISCORD_NATIVE_MODULES_INSTALL': Error: Module updater is not available!

[00:23:59.265][PID25076] OverlayRenderer[24516]: Failed to load Krisp module: Error invoking remote method 'DISCORD_NATIVE_MODULES_INSTALL': Error: Module updater is not available!

[00:23:59.686][PID25076] OverlayRenderer[24516]: T[MessageActionCreators]
font-weight: bold;
color: purple;
Fetching messages for 415778707014287367 between null and null.

[00:24:00.062][PID25076] OverlayRenderer[24516]: T[MessageActionCreators]
font-weight: bold;
color: purple;
Fetching messages for 415778707014287367 between null and null.

[00:24:00.146][PID25076] OverlayRenderer[24516]: T[MessageActionCreators]
font-weight: bold;
color: purple;
Fetching messages for 415778707014287367 between null and null.

[00:24:00.162][PID25076] OverlayRenderer[24516]: T[MessageActionCreators]
font-weight: bold;
color: purple;
Fetched 50 messages for 415778707014287367 isBefore:false isAfter:false

[00:24:00.456][PID25076] OverlayRenderer[24516]: T[MessageActionCreators]
font-weight: bold;
color: purple;
Fetched 50 messages for 415778707014287367 isBefore:false isAfter:false

[00:24:00.463][PID25076] OverlayRenderer[24516]: T[MessageActionCreators]
font-weight: bold;
color: purple;
Fetched 50 messages for 415778707014287367 isBefore:false isAfter:false

[00:28:34.805][PID 2428] Log source disconnected [PID24516]

[00:28:34.805][PID 2428] Requesting destruction of overlay renderer for 24516

[00:28:34.806][PID25076] Destroying overlay renderer for 24516

[00:28:34.818][PID 2428] Log source disconnected [PID 8008]

[00:28:34.846][PID 2428] Log source disconnected [PID25076]

[00:28:34.854][PID 2428] Host process exited with code 0

[00:28:36.853][PID 2428] Running overlay host process

[00:28:37.134][PID 2428] Log source connected [PID19992]

[00:00:00.123][PID19992] Overlay host process started

[00:28:39.823][PID 2428] Terminating overlay host process

[00:28:39.831][PID 2428] Log source disconnected [PID19992]