Thanks for your help on this so far..
I just installed another fresh/vanilla copy of XP, no addons at all. I also disabled my antivirus. Same results.
A couple things I noticed
1. When I first install the SR22, on the 1st boot of XP, the plane loads, and prompts for x-aviation credentials, license activates ok, and the plane looks good.
2. I can then go back and forth between planes, and the SR22 loads fine everytime.
3. Issue returns starting with the next boot of XP.
4. I noticed, if I load another plane 1st, then load the SR22, it gets several more lines in the log, before it hangs. Not sure what that shows.
I run this on a MSI Z390 motherboard, Intel I9-9900K, with 32GB ram.
Wish I had another PC to try, but XP won't run on my laptop.
No issues with any other planes.
Log.txt