Matlab stuck on "Busy" while executing simple code

Dear All,
I have upgraded Matlab 2016b which was working well to 2020b. Unfortunately now Matlab is stuck at actually every line of code. Even a simple one as 'b=1' with 'Busy' status.
To give you some context:
  1. Matlab starts up fine. Problems appears once it is launched 'Ready'
  2. I have a Windows 7 Pro SP1 installed, which seems to be compliant with Matlab vrs
  3. All HW requirements are met
  4. None of the infamous "Online Solutions" works
Could you please advise on what could be the issue?
Regards

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R2020b

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