Hello! I had the same issue. Solution was written in the error:
Add -DDC-ForceMemoryCache to the command line to bypass this if you need access to the editor settings to fix the cache configuration.
In my case I opened cd and entered
cd “C:\Program Files\Epic Games\UE_5.5\Engine\Binaries\Win64”
and after that UnrealEditor.exe -DDC-ForceMemoryCache
Edit the version and path. After the initial launch you can edit preferenecse for cache storage.
After that I have change Local and Global DDC path from Drive C (which is system disk) to D drive (I have created custom folder in D drive for local and another one for global, granted permissions to all). When path was to C drive the error was still there. Probably because of some internal drive restrictions (even though permissions were granted to all users for C drive). Now it works.