Then you can use ProcDump in order to see where it hangs, please see the procedure here: Cubase 13 is crashing when opening the MixConsole - #27 by Martin.Jirsak
Note that you don’t actually need to write the version in the command, you can use procdump64 -e -h -t Cubase.
Another suspect is the MIDI system - do you use WinMIDI or have enabled WinRT in Studio Setup?