I just experienced this issue for the first time and saw something odd not mentioned here. Someone called me about not being able to connect to their office desktop. They were getting the please wait screen. I logged in from one of my computers and saw exactly the same thing. Being ignorant of all this, I told him an update probably got stuck and someone would have to reboot his machine in the morning. This morning I logged into his computer from a different computer and all was fine. I called him and said it must have been an update taking a long time to install and all was fine. He tested and said, "no it still says please wait!" I remoted into his laptop and checked and sure enough he was right.
Some computers were getting the "please wait" screen and others were not. That is somewhat at odds with what is being said here, so I thought I would mention it. The difference between the two computers is the one not experiencing the issue is running Windows 11.