I managed to fix it, I had to delete those two folders and then run the activation manager. Such a simple solution and I tried everything before trying that lol
the .rar is a backup of them incase it hadn’t worked. But if anybody elses Cubase 12 hangs or their Activation Manager hangs at the very beginning of startup and says “not responding” just go to that folder and delete the data and logs and it should fix itself!