Try to launch it without admin, there is the problem that you launch only the engine as admin not the shadowcompiler, thats something that i noticed when i tryed to launch a Project directly and had Admin checked inside the properties of the Engine.exe. Noticed this problem with the engine verion 4.18.2.
At least you can use the 4.19. i couldnt get the 4.19 to run. It always hangs up at 45% when the engine is initializing (waited for 8 hours and it dosnt worked, tryed a new clean build didnt helped, followed many topics, tryed a rebuild of the Shadowcompiler).