I have almost the exact same issue. I do not have USB ports recognized as new drives, but it turns out I do have a network drive that is currently down but still appears as a lettered device on my machine. QGIS was hanging while trying to connect to this remote drive that is not responding. I disconnected my network, and QGIS launched immediately. I then went into the browser and told QGIS to ignore the failed drive. Problem is now resolved and QGIS boots normally.
celeryfarmer
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