Also, after restarting explorer.exe from Task Manager, I got the Acrylic Effects in Windows working.
Following this, the AMD Radeon software would boot normally. Then, I went into Device Manager and installed a driver update for my integrated GPU (AMD Radeon Vega 8 Graphics) and also the dedicated card (AMD Radeon RX 560X). Also, all the windows acrylic transparency effects stopped working (even though PC Settings app showed them to be on).
When Windows installed this driver, on booting AMD Radeon software, it gave a pop up message saying 'AMD Radeon Software and Driver versions do not match'. v20.7.1, following which Windows Update automatically installed a driver update called 'Advanced Micro Devices, Inc.
So recently I installed the latest driver update for my GPU AMD Radeon RX 560X i.e.
