Cannot get UE5.1 to work

I did a fresh installation of UE5.1 to test out the new features and possibly get into learning how to use it yet I am met with non-stop hurdles of crashes starting with Dxil.dll before I can even select a project, and a D3D12StateCache after launching a project. I have gone through countless forums but nothing seems to fix the second hurdle.

My hardware should be more than capable of running UE5.1 on DX12. I have 32GB of ram, a 3080ti (with recent drivers), an i9-9900K and and m2 NVME. Any help would be appreciated!