First try to replace the monitor profile with sRGB IEC61966-2.1. Asus monitor profiles are notoriously bad. I've never heard of Photoshop refusing to open because of a bad monitor profile, but I suppose it could happen if Asus removed the standard sRGB fallback. There has to be some functional monitor profile for Photoshop to work.
I resolved this in the end by resetting windows to factory installation, the reinstalling Photoshop. Guessing there was some corruption of the ICC profile along the way, but I couldn't get it working without resetting windows. Working now at least!