Can not open projects when migrating to IntelliJ 2023.3.4

I am evaluating 2023.3.4 to potentially upgrade our company-wide licenses to the new version.

I had 2022.2.1 installed before and it has been working without issues. This is our company-wide current version.

When I install 2023.3.4 and activate the new UI at the prompt, the  “File | Open…” dialog hangs and does not display a file tree., even after waiting a few minutes.

1) If I enable the native file chooser ( sun.awt.windows.useCommonItemDialog, ide.win.file.chooser.native ) I am able to open new projects.

2) If I disable the native file chooser and disable the new UI, I am also able to open files without problem.

3) After disabling/enabling the native file chooser and the new UI a couple of times, the “File|Open…” dialog seems to work, however, when I choose any project that had not been previously open in the UI, the Open File process hangs. I tried this from the main UI, or the initial launcher UI with the same result.

At the moment, I am using 2023.3.4 with the new UI disabled and it seems to work ok, so it seems this is an issue with the new UI.

Please advise.
We would like to upgrade our company-wide licenses to the newest version.