The issue is mostly seen on the cases where users have multiple accounts.
In my case ;
I use one account for my personal projects but also I am a dev in a studio and i use that account for adding assets to their projects.
So when i jumped in to the company account and try to download any asset which company got .
1- go the launcer and in the library find your assets to download.
2- “add to project” option.
3- Launcher will change to “init” mode and stuck there.
Note: I can download anything in my personal account library . So something in background might try to match the account name or something and it can stcuk while that verifing process. But its not good there is no log or feedback what is going on.