I have ran in this issue, and it is weird. I have installed Visual Studio some time ago, and haven't launched it in like 2 months. Now when I create project it is really laggy, and cpu or ssd is not running at 100%.
Instead, it tries to load extensions, but it seems that it is failing. I have tried to repair it through Visual Studio Installer, and running VS as an admin, but that gave no result. The extension it tries to load is kind of random and can vary between the launches.
Problem screenshot - https://prnt.sc/war0b8