I have the problem, too.
- Windows 10 Pro 21H2
- .NET Framework 4.8.1 (dev-full)
- ArcGIS Pro 2.9.4
Without the (windows) update, it works.
But when I open the windows-update-screen and search for updates, the updater will reinstall it again, with no questions asked.
I just reported my error-report with the minidump-file to esri, perhaps it can help.