We formulate and exploit a computational inverse-design method based on topology optimization to demonstrate photonic crystal structures supporting complex spectral degeneracies. In particular, we discover photonic crystals exhibiting third-order Dirac points formed by the accidental degeneracy of monopolar, dipolar, and quadrupolar modes. We show that, under suitable conditions, these modes can coalesce and form a third-order exceptional point, leading to strong modifications in the spontaneous emission (SE) of emitters, related to the local density of states. We find that SE can be enhanced by a factor of 8 in passive structures, with larger enhancements possible at exceptional points of higher order .