After update, it goes to "Activating extensions" loop, and is fully blocked

[Wavecc]

I have tried to remove, uninstall, reboot, downgrade, disable other plugins, and always comes to the same behavior when this plugin is activated. There are no errors displayed, just the VS code interface is in the "Activating extensions" loop, and does not stop. The buttons of the app are visible but not clickable, as can be seen on the attachment;
Any suggestions how to fix this?
vscode: 1.80.1
plugin: 1.26.1

[jgiszczak]

This continues to be a problem in vscode 1.92.2 with the same plugin version.