Issue with WhatsApp generating Faulting module name: KERNELBASE.dll error on Windows 10

Question

I recently did a fresh installation of Windows 10 Enterprise N 22H2 and installed Whatsapp from the Microsoft store. However, whenever I try to launch the app, it generates entries in the Windows Application log stating that there is a Faulting module name: KERNELBASE.dll error and doesn't work even after reinstalling. How can I resolve this error?

Faulting application name: WhatsApp.exe, version: 0.0.0.0, time stamp: 0x66e9c4a4

Faulting module name: KERNELBASE.dll, version: 10.0.19041.4957, time stamp: 0xc5225d0f

Exception code: 0xc000027b

Fault offset: 0x0000000000133b32

Faulting process ID: 0x3f54

Faulting application start time: 0x01db131ea9f96a97

Faulting application path: C:\Program Files\WindowsApps\5319275A.WhatsAppDesktop_2.2437.3.0_x64__cv1g1gvanyjgm\WhatsApp.exe

Faulting module path: C:\WINDOWS\System32\KERNELBASE.dll

Report ID: a44df09c-c0bb-4a53-ab36-5ba27121388f

Faulting package full name: 5319275A.WhatsAppDesktop_2.2437.3.0_x64__cv1g1gvanyjgm

Faulting package-relative application ID: App