If it helps, this is what the console looks like when I get the error :
----- Initializing Renderer ----
execing ragdoll.cfg from disk
----- Client Initialization -----
----- Client Initialization Complete -----
Trying SMP acceleration...
----- R_Init -----
Getting Direct3D 9 interface...
Pixel shader version is 3.0
Vertex shader version is 3.0
Shader model 2.0 code path is available.
Shader model 3.0 code path is available.
Using Shader model 3.0 code path because it is the best available path on this hardware.
Attempting 1920 x 1080 fullscreen with 32 bpp at 60 hz
Game window successfully created.
Using 4x anti-aliasing
Creating Direct3D device...
Error during initialization:
Unhandled exception caught
Hmmm. So I was looking around and it seems other people have a similar issue with Cod Waw. I found a topic here: https://www.ugx-mods.com/forum/index.php/topic,10865.msg120375.html#msg120375
Do you have the disc version of the game or the Steam version? If it's the disk you may have to use a LanFix exe.
Also make sure your game is up to date. If you have it on Steam then your fine but if it's not on Steam then you have to make sure your game is running 1.7. I saw a post here with your same error code: https://www.ugx-mods.com/forum/index.php/topic,15447.msg151890.html#msg151890
I hope that helps. You can always reinstall Cod Waw as a last resort. I've had issues with maps not starting the first few times but I just keep trying until they work. (neva surrenda!!! hahahaha) I had to try Ragnarok 3-4 times the other night before it let me and my friends all into the game without getting a weird error like yours. Cod Waw is just a pain in the booty, but it's fun when you eventually get it working.
Let me know how it goes,