The following solution fixed it for me: Copied from reddit:
ESET NOD32 Anti-Virus. After it’s most recent update, it seems to be blocking the Bridge Plugin in UE5.
Follow the steps below:
Navigate into Setup > Advanced Setup
Select Web Access protection
Now click on Edit next to “Excluded Applications”
Add the path for nodeBifrost utility:
\UE_5.3\Engine\Plugins\Bridge\ThirdParty\Win\node-bifrost.exe
Click on “okay” where required and your settings will be saved.
You should now be able to run Bridge within UE5 successfully.