Cannot build project: Hangs on 'Persisting CMake state...'

After moving a larger CMake based C++ project from an older i7 based PC to a new PC with an AMD Ryzen 7 3700X CPU, I ran into multiple issues with QT Creator. At first, the C compiler was not recognized. After exporting 'QT_NO_CPU_FEATURE=rdrnd' I was able to run cmake. But when I try to build the project, the only messages in the 'Compile Output' windows is:

3:15:15: Running steps for project  <scrubbed>..

13:15:15: Persisting CMake state...

The problem is persistent and an absolute blocker for using Qt Creator on this machine. The project build without any issues from the command-line.