Windows Terminal does not Launch when "Run as Administrator" on Windows Server 2022 Datacenter

Windows Terminal version

1.19.2401.30002

Windows build number

10.0.20348.0

Other Software

No response

Steps to reproduce

Log in as administrator account
Right click on Windows Terminal Icon
Run as Administrator

Expected Behavior

Windows Terminal launches with admin rights

Actual Behavior

Nothing appears, in event log, this error appears.

Faulting application name: WindowsTerminal.exe, version: 1.19.2401.30002, time stamp: 0x65b9ada4
Faulting module name: Windows.UI.Xaml.dll, version: 10.0.20348.51, time stamp: 0xda2580b1
Exception code: 0xc000027b
Fault offset: 0x0000000000813b28
Faulting process id: 0x1bb4
Faulting application start time: 0x01da59c833d6d40e
Faulting application path: C:\Program Files\WindowsApps\Microsoft.WindowsTerminal_1.19.10302.0_x64__8wekyb3d8bbwe\WindowsTerminal.exe
Faulting module path: C:\Windows\System32\Windows.UI.Xaml.dll
Report Id: 76bcc0f0-01e5-4f01-910f-275f22e2efa2
Faulting package full name: Microsoft.WindowsTerminal_1.19.10302.0_x64__8wekyb3d8bbwe
Faulting package-relative application ID: App

No source file or test is identified. Start by reproducing the launch failure on Windows Server 2022 Datacenter with Windows Terminal 1.19.2401.30002, then inspect the WindowsTerminal.exe crash involving Windows.UI.Xaml.dll and exception 0xc000027b. Done means Windows Terminal launches successfully with administrator rights in that environment.