Cannot restart Cubase - hangs on initialising eLicenser

When I start Cubase the splash screen shows and the various things being initialised are shown. When it says “initialising eLicenser” it takes a little over a second and then continues. Everything works as expected.

If I then need to close and restart Cubase for any reason, on restarting it the splash screen is shown but when it gets to “initialising eLicenser” Cubase hangs. I have tried leaving it for several minutes but nothing happens. Windows reports that Cubase is not responding. Task manager shows 0% CPU usage. Only rebooting the PC solves the problem. As you can imagine this is very annoying.

The interesting thing is this: Yesterday I installed the latest eLicenser application and drivers and it fixed the problem! I could start and stop Cubase as many times as I wanted! However, today the problem is back :frowning:

Please note: The problem is not project related. It occurs even if I start Cubase and close it again without loading a project.

My system specs are in my signature. If anyone has any ideas what might cause this I’d be really interested to know because it’s driving me nuts.