This user has a laptop and was having problems that were linked to the size of the pagefile.sys
“Checking global shaders for platform Windows” stuck forever - Unreal Engine 5 Early Access / Feedback for Unreal Engine 5 Early Access - Unreal Engine Forums
There is a great explanation of GPU workings in Video memory has been exhausted - Development Discussion / Unreal Engine 5 Early Access - Unreal Engine Forums