POSSIBLE SOLUTION IF YOU HAVE WACOM TABLET SOFTWARE INSTALLED:
I had a user in our company whose Illustrator 2021 running on Mojave 10.14.6 would get hung up at the Initialization step of launching. No amount of removing fonts or resetting Illustrator preferences would fix it.
One thing that made her Mac unique from others in the company that did not have the issue, was that she had a Wacom Bamboo CTH-470 and the software to drive it that had been installed a few major versions of the OS ago. Specifically what solved this for her Mac was we **opened the Wacom Utility from the Applications folder, then under the Tablet Software menu, clicked Remove, and then clicked Uninstall**. Then Illustrator 2021 launched correctly. We had also noticed that the system preference control panel for "PenTablet.pref" was moved into the Incompatible Software folder on her boot hard drive after we upgraded her Mac from High Sierra to Mojave.
So try launching Illustrator after uninstalling any Wacom software. If Illustrator is launching correctly, now decide if you still need to use your Wacom tablet. If so, then try installing the newest Wacom software at the link below (Driver 6.3.41-2) and hope the newest version does not brake Illustrator 2021 again.
https://www.wacom.com/en-jp/support/product-support/drivers#latest
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