It's just a sample, if you want it to work you need to use Segatools and get the full Rom.
After fc.exe is started normally, the hardware IO device will be checked. If passed, it will try to connect to the All.Net and Aime servers. Segatools uses IAT Hook to simulate the DirectX input into the corresponding IO input and inject it into the main program. The program only have a hardware checker program(maybe IO Checker) and does not use any user-level dlls.
Almost all program codes are in fc.exe, and only a few lua scripts are in the rom folder. The rom folder mainly stores game Assets and DataBase, as well as some external shaders.
Unfortunately I can't provide the full Rom here, sensitive content such as complete Rom cannot be uploaded in XeNTax, although I donโt know if this rule is also followed here, but you can try looking for it on the internet, Good Luck.