Let me try and be more specific, I can start SH5 stock, and I can start SH5 with TWoS installed, ubi is in offline mode, and the game does start, my install is from the physical DVD. I can get to the new/modded TWoS loading screen with the red bar at the bottom, and the message that warns you that your screen might be black for 5 minutes after loading is complete before you get to the actual SH5 in game menu. I see that. I get to that point, but when the loading bar is complete, that's it, infinite black screen, the game never loads and I have to ctrl alt delete and sign out to regain control of my computer.
A couple of weeks ago that 'black screen' you get warned about would only last about 10 seconds on my PC with an SSD to load. Now it is simply infinite.