Postman not starting - stuck on splash screen 'Preparing your workspaces'

Note: this is similar issue as https://github.com/postmanlabs/postman-app-support/issues/6723, however that is quite dated and for a bug in version 7.2

I have the same issue with below versions:
8.5.1 win64, 8.5.1 win32, 8.5.0 win64

I have uninstalled and reinstalled each of the above versions and each one stalls on the splash screen.