It should be possible to convert LightWave objects (.lwo) to Direct-X 3D graphics formats (.x), provided the textures are UV textures, This should be doable in several dedicated 3D modeling conversion utilities, some good picks are listed below.
Convert LightWave object file to Microsoft Direct-X SDK 3D graphics.
We found 5 software records in the database related to .lwo to .x file format conversion.
Microsoft Windows software - convert lwo to x on Windows
A very popular free program used for work with 3D graphics
Convert from lwo file format
The tables with software actions are a good pointer for what a certain program does with various file types and often may give users a good hint how to perform certain file conversion, for example the above-mentioned lwo to x. However, it is not perfect and sometimes can show results which are not really usable because of how certain programs work with files and the possible conversion is thus actually not possible at all.
A CAD 3D geometry translation software
A graphics design tool for making 3D landscaping and animations
A 3D CAD translation softwate
Apple macOS / Mac OS X software - convert lwo to x on OS X
3D modeling and animation package for Mac.