Hey Stefan! Do your other devices sync iCloud Drive normally?
Also did the same happen in the new user? If so, I may take some of these steps, and some steps either way/
If Apple thinks your iCloud Drive data is preventing the sync, if you go to iCloud.com/iCloud Drive/Recently Deleted, is there data there? And if so, are you able to delete it from there, restart and try again?
I’d also even check the Trash on your Mac, and make sure to empty it, in case iCloud is looking for something that’s not there anymore.
(You can also check your iPhone, or other Apple device).
If the same happened in the new user, I’d probably also try safe boot:
https://support.apple.com/guide/mac-help/start-up-your-mac-in-safe-mode-mh21245/mac
And see if it starts to download.
Another good and simple step may be to select:
Apple menu > Force Quit > Finder > Relaunch, See how that affects it.
All of the results of course depends on how much data is stored in iCloud and on your Mac and/or other devices, some can take some time between steps..
Most times I have happened to see this, other data would sync fine, it was more of a conflict with the content on your Mac attempting to connect to iCloud and vice versa, which is why I mention checking Recently Deleted on both.
I’ve also found that disabling iCloud Drive on your Mac, choosing the option to NOT keep a copy, waiting a few minutes or until that process has completed, then disabling ALL internet on your Mac, then re-enabling internet then iCloud Drive is a good step.
Otherwise, you can restart the process:
Open Activity Monitor in:
Finder > Applications > Utilities.
On the CPU tab, search “bird” the hit the “x” on the top left to force quit the process.
I believe you can also still use Terminal, (In the same Utilities folder). Just type:
“Killall bird”
Or you can be more specific, there are a few locations iCloud uses in the ~/Library for this process, mainly Application Support, and Mobile Documents. But you shouldn’t need to specify.
Of course, I always archive my iCloud data before doing anything like that:
https://support.apple.com/en-us/HT204055
Of course you could troubleshoot the network, (Such as connecting to another, or restarting your router, or creating a new network location, and even checking your Firewall settings, or other software you may use), but typically that’s not the case, but can be.
If you’ve already archived your iCloud data, you should be free to take any of those steps, up to and including, after saving your data:
Disabling iCloud Drive, deleting all the contents from iCloud.com, moving the data back from:
Finder > Go > Home > iCloud Drive Archive (Desktop/Documents), back to their original locations, the re-enabling iCloud Drive.
Hope one step works out, hopefully one of the more simple workarounds, (Besides updating of course). Cheers.