Im with the same issue
I was on 5.2.1, working just fine, i updated to 5.3.2 because of the VDB suppport and since that update, everytime i load a project it gets stuck at 45% for several minutes, even 15m.
I didn’t have this problem before and just happened after the upgrade.
I wanted to roll back to 5.2.1 but now this version doesn’t work either, i also tried 5.1.1, same result. I rolled back my RTX 3060 drivers cuouple of months back and still the same issue.
I followed the instructions and also i removed others ; in 2 more lines but still the same, taking forever to load shaders ON AN EMPTY AND NEW project
Please help, its been over 2 weeks not being able to use UE