Go to the file directory: AppData\Local\Estencel\Saved\Config\WindowsNoEditor and open the file "Engine.ini". Under the section "[SystemSettings]" change it to the following:

[SystemSettings]
niagara.CreateShadersOnLoad=1
r.CreateShadersOnLoad=1
r.MaxAnisotropy=16
r.SSS.HalfRes=0
r.SSR.HalfRes=0
r.TemporalAACurrentFrameWeight=0.05
r.TemporalAASamples=32
r.TemporalAASharpness=1.4
r.TemporalAADynamicSharpen=1.8
r.PostProcessAAQuality=6
r.TemporalAACatmullRom=1
r.TonemapperFilm=1
r.Tonemapper.Quality=5
r.Tonemapper.Sharpen=1.6
r.MSAA.CompositingSampleCount=0
r.FastBlurThreshold=0
r.MotionBlurQuality=0
r.MotionBlur.Amount=0
r.MotionBlurSeparable=0
r.DepthOfFieldQuality=0
r.DepthOfField.FarBlur=0
r.DefaultFeature.MotionBlur=0
r.SceneColorFringe.Max=0
r.SceneColorFringeQuality=0
r.MotionBlur.Max=0
r.OneFrameThreadLag=0
r.BloomQuality=5
r.ParticleLightQuality=2
r.RefractionQuality=2
r.TrueSkyQuality=1
r.SkyLightingQuality=1
r.HBAO.Enable=1
r.AmbientOcclusionLevels=3
r.AmbientOcclusionSampleSetQuality=1
r.AOAsyncBuildQueue=1
r.AOMaxViewDistance=16384
r.AOMinLevel=0
r.AOScatterInterpolation=1
r.SSR.Quality=4
r.EdgeDetectionTexelOffset=1.35
r.SceneColorFormat=4
r.ShadowQuality=5
r.LightFunctionQuality=3
r.Streaming.FramesForFullUpdate=1
r.Emitter.FastPoolEnable=1
r.MultithreadedLightmapEncode=1
r.MultithreadedShadowmapEncode=1
r.ForceAllCoresForShaderCompiling=1
t.MaxFPS=120
r.ScreenPercentage=100
r.LensFlareQuality=0

For a potential boost in performance, right click on Estencel in your Steam Library, select "Properties" and under "General" add the launch option:

-USEALLAVAILABLECORES

If you wish to play in 4k, open the file called "GameUserSettings.ini" and look at the section called "[/script/engine.gameusersettings]". Make sure fullscreen is set to 0 (that is what finally got my resolution to change), and change the resolution settings to 3840 x 2160 or whatever your desired resolution may be. I also turned Vsync on in these options since without it I was getting screen tearing (this can also be set on through Nvidia Control Panel).

[/script/engine.gameusersettings]
bUseVSync=True
bUseDynamicResolution=False
ResolutionSizeX=3840
ResolutionSizeY=2160
LastUserConfirmedResolutionSizeX=3840
LastUserConfirmedResolutionSizeY=2160
WindowPosX=-1
WindowPosY=-1
FullscreenMode=0
LastConfirmedFullscreenMode=0
PreferredFullscreenMode=0
Version=5
AudioQualityLevel=0
LastConfirmedAudioQualityLevel=0
FrameRateLimit=0.000000
DesiredScreenWidth=3840
bUseDesiredScreenHeight=False
DesiredScreenHeight=2160
LastUserConfirmedDesiredScreenWidth=3840
LastUserConfirmedDesiredScreenHeight=2160
LastRecommendedScreenWidth=-1.000000
LastRecommendedScreenHeight=-1.000000
LastCPUBenchmarkResult=-1.000000
LastGPUBenchmarkResult=-1.000000
LastGPUBenchmarkMultiplier=1.000000
bUseHDRDisplayOutput=False
HDRDisplayOutputNits=1000

I hope this guide helps more people to be able to enjoy this wonderful little gem of an indie soulslike! Congratulations to the developer for creating such an impressive solo project.