Project stuck - Initializing 0%

So, my project is suddenly stuck at Initializing 0%.
Everything was working fine for the last few weeks, even today.

Opening the project has never been a problem.
It is a native 5.4 project, nothing migrated.

I did not make any changes today or yesterday. However, after closing Unreal and opening it again, it is now stuck at Initializing 0%

There is nothing I can do. I tried to disable Device Association Service in WIn 11, as that was a tip from another thread. Didn’t do anything.

When I start the Unreal Editor with -log, the Editor itself opens fine.
When I then decide to open my project, it is stuck in an endless loop of looking for some port.

Here is the message:
[2024-07-25 16:03:25.892] [info] Client Sent 99 bytes availability request through socket: 2516.
[2024-07-25 16:03:28.218] [info] found a valid preset Matchmaking port

And that same message, only with a different port, continues on forever.

[2024.07.25-14.02.07:285][ 0]LogHMD: Optional extension XR_KHR_vulkan_swapchain_format_list is not available
[2024.07.25-14.02.07:285][ 0]LogHMD: Optional extension XR_FB_foveation_vulkan is not available
[2024.07.25-14.02.07:285][ 0]LogHMD: Optional extension XR_KHR_composition_layer_cylinder is not available
[2024.07.25-14.02.07:285][ 0]LogHMD: Optional extension XR_KHR_composition_layer_equirect is not available
[2024.07.25-14.02.07:286][ 0]LogHMD: Optional extension XR_KHR_composition_layer_color_scale_bias is not available
[2024.07.25-14.02.07:286][ 0]LogHMD: Optional extension XR_VARJO_quad_views is not available
[2024.07.25-14.02.07:286][ 0]LogHMD: Optional extension XR_EPIC_view_configuration_fov is not available
[2024.07.25-14.02.07:286][ 0]LogHMD: Optional extension XR_FB_composition_layer_alpha_blend is not available
[2024.07.25-14.02.07:286][ 0]LogHMD: Optional extension XR_FB_foveation is not available
[2024.07.25-14.02.07:286][ 0]LogHMD: Optional extension XR_FB_swapchain_update_state is not available
[2024.07.25-14.02.07:287][ 0]LogHMD: Optional extension XR_FB_foveation_configuration is not available
[2024.07.25-14.02.07:287][ 0]LogHMD: Optional extension XR_OCULUS_audio_device_guid is not available
[2024.07.25-14.02.08:526][ 0]LogHMD: Initialized OpenXR on SteamVR/OpenXR runtime version 2.6.2
[2024.07.25-14.02.08:526][ 0]LogVirtualScoutingOpenXRDebug: XR_EXT_debug_utils messenger DISABLED
[2024-07-25 16:02:08.527] [info] found a valid preset Matchmaking port

[2024-07-25 16:02:08.528] [info] Client Sent 99 bytes availability request through socket: 2536.
[2024-07-25 16:02:10.701] [info] found a valid preset Matchmaking port

[2024-07-25 16:02:10.701] [info] Client Sent 99 bytes availability request through socket: 2468.
[2024-07-25 16:02:13.026] [info] found a valid preset Matchmaking port

[2024-07-25 16:02:13.027] [info] Client Sent 99 bytes availability request through socket: 3044.
[2024-07-25 16:02:15.401] [info] found a valid preset Matchmaking port

[2024-07-25 16:02:15.402] [info] Client Sent 99 bytes availability request through socket: 3032.
[2024-07-25 16:02:17.886] [info] found a valid preset Matchmaking port

If anyone could help me, that would be great.

EDIT:
I just created a new project, template is Virtual Production.
It won’t open as well, stuck at 0%

All other templates open up.

Okay, after creating a new project with the Game-Template, it boots up fine.

As soon as I activate the Livelink plugin, the project will no longer get past 0% Initialization.