Except that, as I said, Task Manager is rendered unusable, too. When the GW2 launch hangs, every other app I open also hangs, including Task Manager and the shut-down button on the Start window. When I choose the log-out option on Ctrl-Alt-Del, which forces all open apps to close, it gets me back up quickly.
By the way, running GW2 as Administrator got me in-game on my Windows 11 rig. I haven't yet tried it a second time (was only on to get my dailys). Haven't tried it on my Win10 rig yet either. It's a temporary work around at least.