I have exactly the same issue since the release of HDR Light Studio 5.4 (installation package HDRLightStudio5_Win_2016.1212)
I had to roll back to 5.3 (HDRLightStudio5_Win_2016.1102) to be able to use it with SOLIDWORKS Visualize 2017 SP1.
I contacted Lightmap's support team to warn them. I hope they will find a solution soon.
feel free to contact them too to be informed when a solution will be found (and to add a +1 to the priority of this issue ).
I just received a response from Lightmap's support telling me that this issue will hopefully be fixed in the next update.
It is due to be released in the next week or so.
Hi gents -
I know firsthand the folks at Lightmap are working fast to deliver a fix for HDRLS 5.4.
If you are in a pinch and need to use HDRLS immediately with Visualize, you can install a previous version of HDRLS.
I'm running Visualize 2017 SP1 with HDRLS 5.3.3 (Build 2016.0512).
You can visit their website here, scroll to the bottom to find archive downloads, sign in and then click on that specific HDRLS build I reference above.
Then off to the races and normal