Do you have “cook on the fly” turned on? If so try it with the option turned off.
Is shader model 6 turn on? (SM6)
Perhaps try turning on NNERuntimeRDG maybe one of the plugin’s you are using is somehow interdependent with it? (if you are using any)
Another possibility:
run recompileshaders all from the command line. Perhaps it will force the compilation of the missing shader. Though I’ve heard it can cause freezes.
Some people mention to run recompileshaders changed to mitigate the freeze. If the missing shader is seen as changed it should compile
Also this post seems to stumble upon a similar problem
Though I’m not a 100% sure it is the same scenario.