Corrupted DDC is a common cause.
makefile
Delete all contents in that folder.
C:\Users<YourUsername>\AppData\Local\UnrealEngine\Common\DerivedDataCache
Navigate to your project’s folder.
Delete these folders:
/Saved/
/Intermediate/
/DerivedDataCache/ (if present)
It solved my issue.
Then try launching Unreal Engine again.
CopyEdit
C:\Users\<YourUsername>\AppData\Local\UnrealEngine\Common\DerivedDataCache\