If you downloaded the DW from steam, look at the folder:
C:/Program Files (x86)/steam/steamapps/common/Dangerous Waters
If you have the above folder there, right click the
DangerousWaters.exe executable and create your own desktop shortcut, with that, you dont need steam opened.
The steam version should have upgraded the version to the latest 1.04, but if dont, try to copy and run the patch in the folder I wrote above.
After the patch 1.04 installation, unzip the RA 1.41 file in the DW folder, and run the
.BAT file, after that, unzip the hotfix #1, go to the Graphics folder, and run the
!_Patch_DWX_141_1.bat there, and finish extracting the hotfix #2 in the folder and replacing the existing files (have no .bat to run)
Regards