Ran into this same issue after installing Windows Update KB5066835 but was unable to uninstall that LCU as more recent updates apparently have dependencies on this one. After much searching I found a temporary solution that involves a registry edit:
Temporary fix without uninstalling KB5066835:
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In the registry, navigate to:
HKEY_LOCAL_MACHINE\System\CurrentControlSet\Services\HTTP\Parameters -
Under the Parameters folder, right-click in the right-hand pane and select New > DWORD (32-bit) Value.
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Name the value EnableHttp2Tls and set its data to 0 (zero).
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Repeat the process to add another DWORD (32-bit) Value named EnableHttp2Cleartext and set its data to 0.
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Restart the machine.
I don’t know if this will “stick” but it does allow VS + IIS + Browser to successfully run and launch the browser.