I started up my Windows XP SP3 virtual machine and it failed with the same message. I copied the
dbghelp.dll file (SHA256:
72fcd4053c92cf8369997c2d1afae74e2ff53050a51f47813d849eae41f8d38a) from the
SysWoW64 directory on my Windows 10 computer and overwrote Windows XP's copy with it in Safe Mode (Windows XP's copy persisted when booted normally), and the error changed into a missing
api-ms-win-crt-string-l1-1-0.dll file, which I couldn't find on my computer. The latter DLL is apparently part of Visual C++ Redistributable 2015+ according to online websites, and installing
TechPowerUp's package of all VC++ redistributables in the VM didn't change the error message, so I downloaded a copy of the DLL from a random website I found online and the error changed, saying that there's a missing function in it. (Windows XP is 32-bit, and the SysWoW64 directory contains 32-bit versions of executables and DLLs on 64-bit versions of Windows.)
Perhaps you need to build SRB2Kart yourself using
Cygwin or a GCC cross-compiler, so it wouldn't depend on DLLs that are absent on Windows XP, or DLLs that depend on functions absent on Windows XP. Or, consider upgrading your OS; someone else requested help a few days ago with an old laptop they've acquired running Windows 2000, you may check out my response there.
