This is the most similar post to my situation I've found so I will reply here with my findings.
I'm new to Cura (another post Christmas 3D Printer noob) and was having to resort to a separate machine just for Cura slicing 😅
Issue: Cura hangs during slicing
Root cause: Surfshark VPN on Windows 10 (Specific configuration)
Something in the virtual network adapter that is created in Windows 10 impedes the correct communication with 127.0.0.1:49674, blocking the Cura Slice process/button to function.
The weird behavior is:
If you install Cura, with VPN on or off, it works until you reboot, making trouble-shooting much more difficult.
Disable Surfshark VPN - Has no effect, slice fails
Disable windows firewall - Has no effect, slice fails
What I found for my situation that might help:
I use selective VPN application, were only certain apps are forwarded thru the tunnel. By disabling the Bypasser or playing around with the configs to maintain my initial logic I got Cura to slice again.
Settings > Connectivity > Bypasser
This works:
Other combinations can start to get fails again so I won't go into detail here. I'll have to figure out what works for me but the important part was to get slicing again.
Hope this helps someone in the future.