Features:

• F7 to Open the Menu
• Customizable
• Distance Based
• Doesn't highlight enemy weapons.

Customization:

Old Version: Edit the Main.gd in LootHighlight.vmz -> mods/LootHighlight/ using any Text Editor.

New Version: Simply press F7 to open the settings menu.

You can open the .vmz files with WinRar, 7-Zip, etc

Issues:

• Might stutter every few sec because of the scanning of loose loot.
• Doesn't save the settings ( nowhere to store the config file, but you can still edit the defaults same as in old version customization ).
• When your weapon is raised it will shoot every time you click anything in the GUI.

Thanks to @pommesmitchips for solving the crash issue.