so modern steam you do not need the CD key
THANK YOU for steam user mooman for finding this fix
I was having this issue, I found that the game was defaulting to the integrated graphics card and switching it to my GPU fixed it.

To do this go to Settings>System>Display>Graphics, then find Disney Princess : Enchanted Journey and select whatever option uses the GPU
If the game doesn't appear automatically go to add an app and go into .../steamapps/common/Disney's Princess Enchanted Journey and select play.exe

Hopefully this works for y'all
this is in windows settings btw, you will most likely not have it as an app and just find it under steam apps and add the play app in the games file
also for me having 2 options the one that worked was best preformance

i know this is a game with many memories and if yall have trouble i can try and make a youtube video to show the process