Windows app 26.924.2738.0 stuck on endless spinner; update policy remains pending #49196

The new ChatGPT Windows app is permanently stuck on a blank screen with an endless loading spinner.
Environment:

• Windows 11 Pro, build 26200, x64
• ChatGPT desktop package: OpenAI.Codex_26.924.2738.0_x64__2p2nqsd0c76g0
• ChatGPT.exe version: 154.0.8037.57
  Troubleshooting already performed:
• Repair/reset app
• Full uninstall/reinstall
• Removed local app package data
• Reset Microsoft Store cache
• Verified WebView2
• Installed official offline MSIX
• Verified authentication and network connectivity with codex doctor
• Confirmed no local managed-policy files exist:
  • %ProgramData%\OpenAI\Codex\requirements.toml
  • ~.codex\managed_config.toml
• Device is not managed by Intune/MDM
  Relevant log sequence:
  in_app_updates_policy_wait_started timeoutMs=300000
  The app otherwise initializes successfully:
• app-server handshake succeeds
• ChatGPT account lookup succeeds
• configRequirements/read succeeds
  Five minutes later:
  in_app_updates_policy_timeout policy=pending timeoutMs=300000
  Then:
  Checking Windows Store for package updates buildVersion=26.924.2738.0 manifestBuildVersion=26.924.6891.0 packageIdentity=OpenAI.Codex
  followed by:
  Windows Store package update check completed canSilentlyDownload=true completed=false hasUpdate=false overallState=NoUpdates
  Windows Event Viewer also reports:
  MoAppHang
  for the OpenAI.Codex package.
  The public Store and offline MSIX both still install 26.924.2738.0, while codex doctor reports 26.924.6891.0 as the latest desktop build.
  Expected behavior:
  The app should finish loading and show the ChatGPT UI.
  Actual behavior:
  The app remains indefinitely on the loading spinner.
  Please let me know if any additional logs or diagnostics would be useful.