I did an upgrade to windows 8.1 and had a few problems. First thing I'd try is right clicking on the sh4 icon and select properties. Then click on the compatibility tab and select "Vista SP2"... I posted in another thread that this gave me best results and cured what appeared to be a memory leak.
I'm running fine on 8.1 laptop with switchable graphics (Intel 4000 & Radeon 7600). It runs with either graphics card, although obvious higher frame rate with the Radeon which has 2Gb of dedicated graphics.
If that doesn't work, suggest you post your config, especially the graphics card details on here so that others may be able to help.
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