I looked at the dump file. Cubase got stuck reading a file from the vstsound container: “FCP_SMT_790_Padshop2_Presets.vstsound”.
I have it installed here:
C:\ProgramData\Steinberg\Content\VST Sound\FCP_SMT_790_Padshop2_Presets.vstsound
Could you please temporarily remove it and check again?