After Effects - Recreate a "distortion" or a special Radial Blur effect / Slowly pitch sound down
You can recreate this effect with the CC Radial Blur effect set to "Fading Zoom" together with the Ripple effect or the Turbulent Displacement effect.
Apply these effects to an Adjustment layer above your video layer and add a round mask in the middle with some feather to have the blur and distortion only on the sides of the screen. Use separate Adjustment Layers for each effect to fine tune the strength of both effects with separate masks.

You also want to set the size wave size of the ripple effect to something like 60/30 to have it closer to the look in Dishonored and to not have it so uniform. Setting it to asymmetric might be a good ideas as well

To get even closer you can apply some other distortion effects available in After Effects, just play around a bit. The Turbulent Displacement effect is also a great alternative to the Ripple effect, might even be closer to the look in the game. It has a far less uniform displacement.