On the Options menu, you can select Configure Colors. That will tell you what each color means.
I guess it makes sense that the Windows Push Notifications User Service is the process, but I can't recreate what you're seeing. That is, I used my other favorite tool, Process Monitor to trace file and registry I/O and I've been clicking on all the widget links and I don't see cmd.exe getting called anywhere. I'm running Win11 24H2.
And if you can launch cmd.exe by itself, then that would tend to indicate that the dlls in system32 are ok. I was hoping to get the command line parameters being passed to cmd.exe and see if it was being launched from windows\system32 or if there was some "other" cmd.exe.
I'm going to be out of town next week, so it might be a while before I can reply to any update that you post.
Here's some thoughts on things that you can try.
Does Windows Update show that there are additional updates to be installed? You mentioned that this started with "the 2nd to latest update". Have you tried uninstalling those updates? What KB do you think caused the problem? Did you update any other software in the meantime?
Have you run a full system scan for viruses? Or ran the MRT tool? ("mrt.exe /f") Just to be safe. If you are running a 3rd party AV product, maybe run it's full scan, and then temporarily disable it and see if the problem still occurs.
If you feel adventurous, you can try running Sysinternal's Process Monitor and see if you can capture any info about cmd.exe. Verify that it is being launched from windows\system32 and see what command line parameters are being passed to it.