I just spun up my Windows 11 instance of Local as a test but it’s still working fine for me. Something else you could try is creating a new Admin user on your device, and seeing if Local will run under a different account.
There is likely something still interfering with Local under your current user, either another program or a security setting but we’ve covered most of the usual suspects here. Something less common could be that you’re out of disk space, which means that Local doesn’t have enough room to operate.
There are some other troubleshooting comments in this thread you could attempt as well if it continues: Problem running wp local