This is a problem with the VR Drivers.
Turning off the Oculus Drivers in
Edit Menu (top of screen)
-Project Settings -Player -XR Settings
Select Oculus and hit the '-' below to remove it.
The problem here is the Oculus Drivers and the Open VR drivers are fighting each other. We dont need the Oculus Drivers, as Steam VR (which usings OpenVR) supports Oculus (as well as Vive, Windows MR and Meta).
Video here to see how these settings are changed.
2:28 to see how to open the settings page. 4:10 for changing the VR Driver Settings.