Can confirm, S4 MK3 and the above Windows update do not get along. Just uninstalled it and now I'm back in business.
Windows 11 just updated again, and now when I boot up Traktor Pro and load a track, my S4 doesn't "see" it. If I hit play in the software, the S4 still works as a soundcard and I hear the track in my headphones.
I've done all the things suggested (everything's up-to-date) and this is driving me crazy. It's literally "the lights are on but nobody's home" here... Anyone? I'm in the middle of a MIX :( this is agony lol...