Preface: I haven’t used Local in about a year. I see a lot has changed.
I installed it a few weeks back, noticed there was an update today so did that. Then I proceeded to create two installs. The first I was going to put on my OneDrive, but that led to issues (I thought I had it working before) so I opted instead to put them on my 2nd drive.
After deleting the first install and re-installing on my s: drive, I immediately proceeded to install the 2nd. I updated WordPress on both from the Local UI.
When I tried to log into the admin, it said my password was wrong, even though I had copied it immediately. (Fixed this with @clay’s suggestion of editing via the db).
When I try to visit the front end of both sites, I’m greeted by only text. The only formatting is the WP blue colour and the search button looks about right. Nothing other than text shows on the screen.
Oh, and this is on a relatively new install of W10.