As everyone else that has VP18 and Win11 have posted, it is working on my computer too. If it's working on everyone else's computer that replied, then I would have to say that there is an issue with something on your computer.
When I decided to go Win11 (Pro), I bought a new NVME 1TB for a system drive. Installed a fresh installation (not an overwrite update of Win10), and have never had any issues such as yours with Vegas 18, 19, 20, and now 21. I also have installed plugins such as Boris FX Continuum Complete 2023.5, NBFX TFX 360, Sapphire units, Ignite Pro 5, and other specific Vegas plugins. Everything works.
I reformatted and still the same. It works on clean windows but as soon as I install something it stops working. Can you check if vegas can be uninstalled in your case? I suspect that the cause may be Microsoft Visual or some program that causes the problem.
I found the cause of my problems. First of all, I would like to apologize to Magix for my frustration and anger with you. The problem was Malwarebytes. Uninstalling it, the program starts normally. The program also uninstalled normally. The topic can be closed.
I too have Malwarebytes installed, and never had an issue with Vegas working. On my Win11 Pro NVME, I have installed VP18, 20, and 21 Post 365. I've never had to add an exception (something to the Allow List) for any Vegas version to work.
Reformatting and installing Win11 and drivers, I can't figure out why VP18 will not start. I am assuming you downloaded the VP18 installation file from your Magix account. But I also still have my original installation file when I bought the software. My VP18 is the latest release for that version.
Yesterday I formatted Windows. After installing malwarebytes, the problem occurred again. I added the exclusion program and it works. It looks like it was blocking some kind of internet connection.