Actually this is laptop, so i would just ignore bios.
You won't have much to tinker with..aside from boot order, boot mode (efi, legacy), fast boot, secure boot.
Drive is detected anyway, you can write to it, you can open apps from it (more or less).?
Just like others suggested above, I was also leaning towards permission or group policy issue,
but than again, you can run other .exe's and already tried 'run as admin' on vam (didn't work).
So...
onto generic reply (aka blame it on windows):
In that case it can be many reasons why and usually it's something stupid.
From antivirus(acting stupid), firewall, drivers, admin permission, group policy(in case of external/removable drive), location(if inside d:/root and not Program Files or Games), random registry corruption, user corruption, conflict with some other app or process already running, recent windows update messup, the usual...
In most cases simply reinstalling stuff from A-Z (for example:drivers & drive)
or
sfc /scannow (as admin) can fix some common issues/corruptions.
Whatever you do, make sure to restart, to take effect (especially if fast boot is on).
Also is vam frozen (not responding) or just black screen?
If fullscreen(borderless), did you try running vam windowed
-screen-fullscreen 0 ?
Any errors inside windows event log (after black screen) or vam output_log (C:\Users\<User>\AppData\LocalLow\MeshedVR\VaM)?
