Indeed, it looks this way. Thanks so much! Windows 10 and 11 in my case.

Thanks for the suggested workaround, I am going to try that. And thanks for pointing out this could be related to something like a Yubikey attached. Having the same symptoms as those described in T4581 and here.

I have this regularly. Sometimes waiting helps and it loads after several minutes, sometimes shutting down Kleopatra is the only remedy (because after an hour and more it feels like it ended up in an infinite loop).