At last a problem that I recognise, and know how to sort out!
You need to install the .Net Core 3.1 x86 runtime library which is required for Web Display - here's the link: https://dotnet.microsoft.com/en-us/down ... -installer
I had forgotten (I blame it on old age) that this isn't installed by default on Windows 11, and although your system is 64-bit you will need the x86 version.
I'll need to update the documentation as this is likely to become increasingly common as more people 'upgrade' to Windows 11.
If you can download and install the runtime, then try running WD in an Admin command window again and let's see what happens.
Thanks,
Martin