Help! I'm stuck at the rainbow wheel booting up the app as a first time user

I just downloaded MarginNote 4 from the Mac App Store and as soon as I open it, it becomes unresponsive with the rainbow wheel. It stays that way. I can load MarginNote 3 just fine so I’ll just use that for now and migrate over when this can get resolved. I’m on the latest Developer Beta - so it could be related to that.

Mac Studio (2023)
MacOS Sequoia 15.5 Developer Beta

Hello. I’m really sorry that you’ve encountered these problems. I’m wondering if it could be caused by insufficient memory? If possible, I need some screenshots so that I can better present these issues to the developers.