No fonts working after update to Photoshop 2021

After automatically upgrading to Photoshop 2021 (from Photoshop 2020)  on Windows 10 Pro 64-bit, I am now getting the following error for every single font I try:

"Selected font failed during last operation. If problem persists, please disable the font."

I'm using the 22.0.0 version. I have run the font test script. All 688 fonts failed.

The error log from the font test displays this for all fonts:

-----------------------------------------
Photoshop Font Test
-----------------------------------------
Start Time: Sun Nov 01 2020 23:45:30 GMT-0500
End Time: Sun Nov 01 2020 23:47:58 GMT-0500
Execution Time: 148.25 seconds
-----------------------------------------
The number of fonts installed: 688
The number of fonts tested: 688
The number of fonts passed: 0
The number of fonts failed: 688
-----------------------------------------
*****************************************
Test Result: FAIL
*****************************************

Failed Font(s) Found. If the error seems to be the font related issue, please send this log to PS-External-Bugs-Tools@adobe.com.

- Font 1: EmojiOne (IOError: General Photoshop error occurred. This functionality may not be available in this version of Photoshop.
- <no additional information available>)

- Font 2: Segoe UI Emoji (IOError: General Photoshop error occurred. This functionality may not be available in this version of Photoshop.
- <no additional information available>)

etc.etc.etc.

I have tried deleted the font cache folders under the AppData/Roaming etc. and still get the same results. Any ideas?

Thanks!