Loading Cloud Music Library stuck in Music app on macOS (10.15.7)

I tried search for answer but only found solutions for people experiencing the same problem (described below) on iOS. Does anyone experience similar issue on the computer/macOS?

• My Cloud Music Library works fine on two iPads, one iPhone and one TV
• However, on the iMac (running Catalina 10.15.7) the Music app gets stuck in infinite loading cycle
• Definitely not network issue since everything else works just fine at the same time (including the Podcast app and everything that depends on the internet)
• I know the Cloud Music server must be fine because I can play from my library at the same time on phone/ipad/tv
• Already tried logout/login, deauthorize/re-authorize several times

Thanks for feedback.