Update: I’m able to get the project to re-open successfully if during project creation I set the Project Default to C++ instead of Blueprint, then close the editor and re-open it via Ctrl + F5 within Visual Studio. There are a few more pre-populated assets in the project, since it includes both the Arena Shooter and Survival Horror templates when doing this.
Thank you @VisAgilis for the tip on Ctrl + F5! I had seen other people mention opening the editor from VS but I was unclear on how to actually do this.
Hopefully this helps you @Kitviren. If not, maybe check your MSVC version, as the pre-selected one when following the documentation page I linked above didn’t install version 14.38.33130, I had to find it in the “Individual components” section of the VS installer.