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I have a new iMac 2020 with upgraded graphics card and 1TB free space. Premier Rush just shows the blue loading circle. I have uninstalled and reinstalled 3 time and get the same issue. I cannot create a file or anything.
Sorry about the trouble you're having with Premiere Rush. Would you mind sharing a screenshot that displays the issue? This helps us to see what exactly is happening.
Also, does this sound like the issue you're seeing? https://community.adobe.com/t5/premiere-rush/premiere-rush-stuck-on-load/m-p/11578949?page=1#M7327
Let us know. Happy to help.