Minecraft launcher causes hard crash on Windows 11

I am a game pass owner and previous Minecraft owner. I migrated to the new Microsoft account for Minecraft and got the new launcher via the Xbox Game store.

 

When I launch Minecraft launcher and click play on the Java Minecraft version, my PC reboots. At this point in time its 100% reproducible and I see others reporting this problem on Twitter.

Reported the issue in insider hub as well.