Autodesk Vault 2022 Client stalls at opening after installing IMAGINiT Vault Client Utilities 2024.1

Issue:  

When the IMAGINiT Utilities for Vault Client 2024.1 were announced in an email to previous client utility users on March 11, 2024 the email noted that this version will install client add-ins for Vault versions 2020-2024 on your machine.

However, after installing the 2024.1 update on a workstation with the Vault 2022 client, when the client starts up it appears to stall at the splash screen (product logo).

If you scroll through background windows with Alt+Tab, then Tab again several times, you can see this 'Extension Error' message displayed in front of the splash screen: 

Error loading extension C:\ProgramData\Autodesk\Vault
2022\Extensions\IMAGINIT.VaultJobs\IMAGINIT.VaultJobs22.vcet.config.