Once - some years ago - I had a similar issue after an Electrum update (which back then it meant for me new settings).
I will start with the fact that I prefer to use Electrum in portable mode, which ensures the Electrum data and settings are in the place of my choice (that's why I had new settings too back then).

What I'd do: I'd get Electrum portable and start it in a folder of my choice (it should not be directly the desktop because it will create more folders and may confuse you). This would ensure new settings in case you've missed something. And this may also mean new popups from your Windows or Antivirus in case you forgot some setting/click you've done). And give it more time to connect, just in case. When I was in trouble it took much more minutes until it connected.