Premiere Pro 2024 Not Using Any CPU, GPU, RAM on High End Desktop

"It will time out just trying to open up a menu/preferences"

As for the slow opening of "menu/preferences" ... I can safely say that it is due to too many installed fonts.. I also had this problem, I waited for 6-7 seconds for "menu/preferences" to open until I found out what is in question and I would like to draw the attention of adobe support to look into it......try it with a freshly installed system without additional fonts, then it installs a lot of fonts and you will see the difference....
I work on WIN 11 for workstations and you must know that win 11 itself is a bit slower, more insecure, more sluggish, has latency, is not as responsive as win10. Put win 10 and you'll see how everything flies.....(I don't use win transparency and animation - I don't like it)...so everything I call is currently open....
With me, Pp works great on 24.03, there are occasional glitches here and there, rendering, export, multicamera... everything is improved, accelerated... the timeline works perfectly, when you stop CTI on the fully extended timeline, it stops.. .etc
You must know that for comfortable work nowadays H264, H265 , 10bit RAW, RED , 12bit and 422 sample colors 4K and higher resolutions, All-i, LongGop 400Mbps and other files, you need at least 3xNVME M.2 disks, one for the system, one for cash, one for the video you are working on....the others, hard disks, ssd disks can be for storing video material....
You didn't write which video files you work with, so you don't have CPU and GPU utilization, what kind of plug-ins you use, legal or not, because that also sometimes causes problems.... with your configuration, you shouldn't have problems working in 4K.....
To begin with, my advice is fresh win 11 or 10 64bit... the latest drivers, then the latest Pp and no one programs, not even plugins... no extra fonts, players, antivirus programs, nothing, nothing..... as far as I can see, you only have one ssd, it may or may not be a problem. I have a slightly stronger configuration than yours and I work on 2x Asus 32" monitors and Pp flies like a bird .... with all programs, plug-ins, Eset premium, players, games and other adobe programs .... here is the post for the initial procedure, only Os, drivers and Pp.....if this doesn't help you and I hope it will, then you have a faulty hardware problem...
best regards
my config;
OS: Win 11 for Workstation (Win11_23H2) latest, all updated, latest drivers

Processor: AMD 3950X

Motherboar: X570 TAICHI - RAM: 64GB DDR4 3600Mhz 2x32 HYPERX PREDATOR
Video: RTX 3090 Ti 24Gb

2 x ASUS PROART - 32"

disk1: for OS - Samsung NVME M.2 - 980pro 500GB
disk2: for PROJECTS - Samsung NVME M.2 - 970 EVO PLUS 2TB
disk3: for (Media Cache Database, Media Cache Files, Scratch Disk) Samsung 970 EVO 1TB

the other hard drives 3, 4, 8, 12TB are for various storage and video and Pp projects...

Rendering should be set to CUDA with Nvidia GPUs. Other than that, probably @RjL190365 has good knowledge.