I'm experiencing an issue where Steam launches and remains running in Task Manager, but the Steam UI/window never appears.

System:

-Windows: 10.0.26200.0
-Steam Client: 1785799196
-Steam Version: 10.87.82.64

What I've observed:

-steam.exe and multiple steamwebhelper.exe processes start normally.
-Both processes remain Responding = True.
However, steam.exe consistently has MainWindowHandle = 0, and no Steam window is created.
-steamwebhelper successfully reaches BrowserReady in steamui_html.txt.
steamui_system.txt shows successful initialization of the display, performance, network, and system controllers.
-No relevant errors appear in Windows Event Viewer.
-SFC and DISM complete successfully.

Troubleshooting already performed:

-Reinstalled Steam.
-Cleared Steam cache/configuration and registry entries.
-Tried Offline Mode and -vgui.
-Disabled CEF-related options.
-Performed a Windows Clean Boot.
-Tested using a new local Administrator account.
-Checked Steam/CEF DLL loading and dependencies with Process Monitor.
-Checked for third-party DLL injection.
-Tested Windows GUI functionality separately; normal WinForms windows open correctly.

The Steam logs consistently stop after:

-Started webhelper process
-CreateBrowser
-CreateResponse
-BrowserReady

but no Steam window is created afterward.

Could you please advise if this is a known issue with the current Steam client build, or provide any additional diagnostic/logging procedure that can identify why the Steam UI window is not being created?