Sorry, but
this is a bigsh***.
The Current actual Link Manager degrades DX11 to DX10.1. All DX11 Games and Applications are not Working.
I have for four days looked and searched in the Net and in my System where is the error. Why i can't Play DX11 Games.
i have postet in various Forums (Technet/AMD/PCGH).
I think

it cannot be on 32bit runs Feature Level dx10.1 with Max Shader 4.x and on 64Bit DX11 with Shader 5.x.
I have a XFX 7850 Black Edition with DirectX 11.1 and use the USB 2.0 Link Manager with a Third Monitor.
I do a fresh install look in any dammned Windows Update and Install and run DXDiag 32bit and 64bit. Alls Fine, DX11 is here.
Now i Install Displaylink manager the comes from Windows Update and boom..

now i have dx10.1.
So i have now the actual Version deinstalled and runs with version 7.3. It does'nt degrades to DX10.1
Important and Prio One: This must be Quickly Fixed.

Best try and Research in development. Place a DX11 Card in a PC Maschine
PS: Sorry for the Hard words but i'm very stinky.........yes i'm German User with terrible English