I have reported this issue with a bug report, however since I haven’t heard from them in a week, I was wondering if there is anything else I could try. Here are the things I’ve tried:

1. Checked drivers including Nvidia
2. Verified installation via Steam.
3. Deleted cache
4. Checked installation of Visual C to ensure it’s running the right version.
5. Checked all drivers on the rig
6.Set BG to exclusion list for Windows Defender
7. Tried to bypass launcher via Steam launcher options
8. Uninstalled BG3 and reinstalled BG3

It was working fine till the last patch but I haven’t been able to play BG3 for a few weeks now. Is there anything else I could have tried?