According to https://dev.gnupg.org/rG1b4ac98de7db6f6828b1b255ad3d4e5e7373666e the last line in trustlist.txt should not require a LF. This is still not the case.
With the following trustlist.txt (our test root cert, no newline at the end):
D4:EC:A6:B4:69:AB:B5:44:08:27:CB:3F:C7:D7:91:08:3C:10:27:DB S
In both gpg4win-5.0.0 @ win11 and vsd-3.3.4 @ win10 I still get a Line too long error:
2026-02-02 14:53:04 gpg-agent[6276] file 'C:\ProgramData\GNU\etc\gnupg\trustlist.txt', line 48: Line too long 2026-02-02 14:53:04 gpg-agent[6276] error reading list of trusted root certificates 2026-02-02 14:53:04 gpg-agent[6276] command 'LISTTRUSTED' failed: Line too long