After I enabled the full debug log with your autoexec.cfg, I saw this line:
2022-09-17 17:30:02.211 ALERT DX11BACKEND: Error: Can't find precompiled shader for effect deferred/compose.fx:DIRECTX11=true;MSAA=2;USE_DCS_DEFERRED=1;USE_SHADOWS=1;USE_SSAO=1;.
Recompilation process will take some time, please wait
(this situation should not occur on end user PC, if there is no manual shader editing)
This time I gave the game 10 minutes to load, and it finally loaded. Now it is loading normally 🙂
red_FoX's post in Game is not loading was marked as the answer