ASP.NET Core with Angular app is breaking after taking Windows 10 update (KB5003637)

We are facing below issue after taking Windows 10 Professional update (KB5003637) . If you have already faced similar kind of issue, your suggestions might help.

Issue: ASP.NET core with Angular app is not working with IIS Express(VS 2019 - 16.10.1) on local machine , however same app is working fine in Azure app service.

1. .NET Core 3.1
2. Microsoft.ASpNetCore.SpaServices.Extentions - 3.1.7
3. Angular 12.0.2
4. Node v14.17.0

Additional details –

1. Angular proxy is configured in the Startup.cs file (Configure method) as below -

           if (environment.IsDevelopment())
           {
               spa.UseProxyToSpaDevelopmentServer(http://localhost:4200);
           }
   

2. Blank screen is coming and in browser console we are getting below errors.

3. Azure AD authentication is used in the ASP.NET Core app.

4. This behavior(blank screen) is coming for all browsers(Firefox, Chrome, Edge Chromium) including private mode.

Uninstalling this Windows update fixes the above issue and application works fine as before.