I tried to work this out myself. I updated, uninstalled, reinstalled, and the whole nine yards. This latest build just keeps freezing when I mouse over and it rolls down. It will not roll back up and EVERY time I click on it, it crashes and opens up the report crash window. I've sent several. I went back to the 4.07.02 build and the problem is gone. Now it just insists it needs to update. The other Stardock software I have installed is Groupy2, Multiplicity, IconPackager, Start 11, Keyboard Launchpad, and CursorFX. My second PC is running Windows 10 (to old for update) and is running the latest version of Fences with no issues at all.
Main PC Build:
Edition Windows 11 Home
Installed on 2/20/2023
OS build 22621.1702
Experience Windows Feature Experience Pack 1000.22641.1000.0