Since the 1.66 release i had problems with this and the IOmangager violation would reboot my system. It effects some other games, but i have not seen this before in arma.
Uninstall ASUS GPU Tweak as a test. Reinstall if it does not solve your issue. In task manager of windows it will no longer be present as a process so Arma 3 loads from the launcher in the usual way.
Im not 100% sure this was a bug as i at the time of 1.66 being pooled on steam i was just tweaking a new SSD. But the post process and testing i have done on my rig suggests it was so i put ASUS GPU tweak back on and boom.
There may only be a few pc setups that this effects as the variables from pc to pc are many.
May be some new 64 bit prep has an issue sorry i cant give more info wiped from SSD now. I really dont want to reproduce it for a .rpt