UE5.4 crushes as soon as creating a new project

When I try to create a new game project (the game type doesn’t matter), UE5 crushes in a few seconds. It happens 100%, so it’s totally impossible to create a new project. Old projects that are already created can open and editable, although they were made with the same version. This problem started a few weeks ago probably after there was a Windows update. I have no idea how to fix it.
Does anyone know why it happens, how to fix it? Any advice, suggestions, everything is appreciated. Thank you so much!

Turning on Ray Tracing solved the problem. Thank you.