After delete the Waves server and restart my PC, i have the same problem. The plugins from waves load for so much time. Some times it will be good and sometimes it load and load and load.
I work with Sequoia 15 and Cubase 11 - the same problem.
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I bought the Behringer X32 mixer during lockdown and treated myself to the Waves Audio card and waves software bundle and I find Komplete Kontrol HATES WAVES and hangs on numerous Waves plugins. I have to end task Komplete Kontrol and end task the Scanapp and remove the plugin bundle folder from program files x64\waves directory cos I need it to complete a plug in scan preferably sometime today not next week. It hasn't crashed it just hangs for hours and the Komplete app my vst2/3 folders are all on M2/SSD drives so speed it not an issue !!! After removing the waves plugin it hangs on waves shell obviously cos I removed the dll plug in folder as above??
A note on Waves. They are re-tards! Sure there are a few nice plugins but if I had my $1k to spend again I would not buy Waves personally. Their installer has a fixed install location at C:\Program Files\VSTPlugins so if you have a custom location you have to copy these to your actual path and every update you need to remember to recopy these. If you do not, this can cause issues every time you launch a program. Also, keep in mind with Waves they use a "WaveShell" container that the scan has to interrogate and pull all the plugins out of it. Depending on your bundle of plugins this can sometimes take up to 5+ minutes but should only need to be done initially.
Ideally you should store your VST plugin on the C:\ drive and not use Symlinks. I know you "rarely" have issues but almost anyone (user, professional, developer etc...) will recommend to have a single fixed location in Program Files for your dll plugins, then install your library and content on a second drive.