Evelynn needs some of her nerfs reverted to be viable and some tweaking
Hate spike's base damage is too low, and the requirement to rank it so that the ratios can also improve is a major hindrance. Hate spike doesn't reach its original AP ratio until its rank 3, and because the base damage is so very low, it remains a very anemic ability until rank 5, basically until level 7.
Ravage being physical is also very problematic because it forces her into armor pen items which don't provide anywhere near as much AD magic pen items provide AP. It also removes some of the flexibility of building her as well.
Agony's Embrace is easily one of the worst ultimate's currently. It has one of the higher cooldown's in the game, it deals current health damage (meaning it will never deal anything close to most damaging ultimates), and its also her only source of CC.
Compounded onto this, is her low base health, lack of sustain, and lack of mana regen.
My suggestion is to revert some of the nerfs that she received. Ravage could be turned back into magical damage. At the moment, it causes building issues, especially when her recommended item is an AP item that provides no magic penetration and is an inferior choice to Morellonomicon.
Another change could be normalizing the ratios on her Hate spike. Her Ultimate could have reduced percent damage, but be changed to maximum health instead of current health. Allowig it to be relevant regardless of the target's health status. It should be capable of killing, not be used for a weak shield. (Sion's shield is better).