So, I just played this. Some things were better than I expected, some things were worse, some things were the same.
First, the launcher is completely unnecessary. Next time include batch scripts instead. There's no reason for a new launcher when SF94's is already perfectly fine and actually remembers your settings. Moving on.
The maps in this port are still awful. I expected that, but it'd be nice if you at least touched them up, maybe fixed some of their super ugly texturing. Digital Dimension can be a total eyesore at times.
Onwards to gameplay. The boost delay is way too long. In the original game, I found myself spamming boost like there was no tomorrow while I had it. That's not possible here. You're stuck with the same low speed until the delay timer finishes, which is kind of boring. Another thing I found horrid was the drift. I don't remember how bad they were in 2.0, but the drift controls are really disorienting here. It's as if the drift direction is mapped to the opposite strafe key and it throws me off like crazy. I dunno what exactly happened with the grind rails, but it seems like they don't work at all anymore either, which is lame. Footracing mode I was honestly surprised you even included, it's basically vanilla race + doublejumps for some characters and jumpthok for Sonic. Onwards.
For some reason all the prints to the console printed twice. I don't understand why, and I really don't wanna bother looking into the code too much. I didn't run into any other errors, but I didn't play for very long either. From skimming over it, it looks like there are organizational issues within the code. Now, the mod itself doesn't suffer from this, but anyone trying to modify it does.
The graphics, at least, didn't have any display issues and were ported over perfectly fine. Some of them are still ugly, but I'm not gonna hound you over that.
I can't say much in terms of compatibility. I tested this in SDL2 with OpenGL and everything came out perfectly fine.
Lastly, this may be nitpicking, but I really don't like how you gave up on a lot of features because they weren't "easy to replicate". Lua in SRB2 is extremely flexible and looking at the things you're missing, I'm almost certain those are possible to replicate. Hell, some things are pretty easy! If you want to restore match/CTF compatibility, insert gametype checks in a whole lot of places and you're practically done. Lua also has support for custom linedef executors so trick ramps should be pretty easy to pull off too! The fly hoops are also about as easy as detecting and thrusting the player to the nearest hoop object. You shouldn't give up on things so quick without investigating what measures would need to be taken. Sometimes rewriting a feature entirely is better than porting it.
I get that this was intended to be a port, but it really upsets me that you didn't try and improve it in any way. SRB2 Riders had a lot of problems back in 2.0, and it seems that this port inherits essentially all of them, even moreso actually. Worse than that, the racing feels dumbed down. I hope that at some point you actually try to improve upon this mod, because I think Riders had a lot of potential wasn't met due to poor implementation.