ARA extension not working in Cubase 11 for me (freezes at preparing data)

Hi, was hoping that someone could share some light over this issue:

When I enable an ARA extension, either Melodyne 4 or Spectralayers 7, the “preparing data” dialogue never finishes. I have removed all other plugins and trashed the Cubase preferences folder, but the same problem occurs.

Thanks for any help-

Cubase 11, Mac Pro 2010, Catalina 10.15.7


Make sure, the folders, where is the project stored or any parent folder above doesn’t contain any non-english letter, please.

This is known and already reported issue. Thank you.