I too now start Cakewalk, I can open a project, but as soon as I hit play it locks up and stays persistent in the Task Manager so I'm forced to reboot in order to try to load it again. It also hangs on the "loading files" message. Worked fine a few weeks ago. Windows update is the only thing I can think of that has changed in the past few weeks.
I try running Cakewalk but it hangs here most of the time.
I tried uninstalling but I got the error "The setup files are corrupted. Please obtain a new copy of the program".
Holding Ctrl while launching Cakewalk to reset the defaults seems to have fixed the issue. I suspect switching TVs messed with the audio driver to it confusing the program.