Have you installed UT direct under the root (like C:\UT2004)? Wormbo mentioned, somewhere in this topic, that when it's installed in a subfolder or with blanks it could cause problems.
Can you post your hardware (Motherboard, CPU, GPU)?
Do you have an overall reduced system performance since win 10? My opinion is when you have new componets and want to use win you have to use win 10 to get all the performance which is available. But with "old" (4/5 years) componets you will have a performance loss.
I'm not sure, but i think Smalltown had said that when you make a clean install from win 10 it's running better than with the upgrade thing.
With the red/green thing you can use a red/green_goggle
It really looks like your GPU is producing an old red/green 3D effect. Has UT this "feature"?
What I found is that this driver IZ3D
could be used to made a red/green-3D to 2D programms. Also to UT. Just scroll to the picture
Btw. wellcome to the forum.