Alpha 1 did not use the Wicked Engine for rendering, but used GameGuru Classic and only showed off the new UI, etc. Alphas 2-4 use the Wicked Engine, so this is why it is possible for Alpha 1 to run successfully, but Alphas 2-4 to fail.
The size of the various alphas deal with what's included in the download (which models, textures, etc.) and other factors.
I don't know if updating to Update 2004 is necessary or not. But I had issues running alpha 3 (see the thread on alpha 3 to follow that) and had to go through a lot to get it to function. It ended up being a few corrupt DirectX DLLs. Using Dependency Walker, I was able to find the problems and resolve them.
One of the first things I would check is to see if you have all the Microsoft Visual C++ Redistributables installed. I have 2005, 2008, 2010, 2012, 2013, and 2015-2019 (the last is one file, one install). And I have them for both x86 and x64.
Of course, try the obvious stuff, like attempting to run the alpha in Administrator mode, make sure you have a good DirectX installation, etc. Your system specs are fine, of course. Oh! And you can go and download and install The Wicked Engine itself:
https://wickedengine.net/downloads/
If The Wicked Engine runs, then the issue is most likely with the MAX alphas. If not, then the issue is with The Wicked Engine. And that would mostly mean that your system is missing something required to run it.
I hope this helps somehow.
Intel i7-5820K 3.30GHz (overclocked to 4.5 GHz), 128 GB RAM, Nvidia GTX 1080 ti 11GB, Windows 10 64-bit, dual monitor display