Tested mine just now. Z3D works for me as long as Anti Aliasing is set to High. I seem to remember this from when the game first came out.
Also make sure your Resolution Modifier option is set to 1.0. My testing showed that anything lower breaks 3D, while higher may work.
Use Fullscreen to be safe.
If that still doesn’t fix it, try to alt+tab minimize and back, try your native monitor resolution, and try the different AA settings.
Maybe if this profile got a quick z-buffer detection patch, this wouldn’t be a problem for others in the future.