If you don't understand something, here is detailed instruction with screenshots:
https://raymanpc.com/forum/viewtopic.php?f=89&t=28380#p1363761
The game uses DirectX 8.
For current Reshade version here:
https://reshade.me/
D3D8to9 is required to work:
https://github.com/crosire/d3d8to9/releases
Although, for this game it's better to use "Better Rayman" as substitution of D3D8to9 (it has also numerous fixes and special, brand new configurator):
https://raymanpc.com/forum/viewtopic.php?f=89&t=12854
Install it, and launch BR3_Config, and choose your resolution (supports widescreen) and check Hardware Vertex Processing. Press OK. It fixes graphical glitches in d3d8to9. Now edit d3d8.ini and in field d3d8to9 change 0 to 1 to turn it on. Since now, Reshade works.
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For injecting Reshade in Dolphin:
download Ishiruka Dolphin, and install Reshade as OpenGL while having default DX11 renderer set in Dolphin's settings.