Games app does not work - connectivity problems?

After launching Games app I observe several issues, perhaps linked to sort of connectivity problem:

• Home Screen content is not loaded, only some grey rectangular placeholders are visible.
• Arcade screen loads properly (I think, I see some list of games, including even live previews), but after selecting any of games on next screen I can only see game Icon and title. No description, no possibility to purchase or lunch purchased game.
• Library shows all games from Steam and I can launch these. Arcade games are shown, but as in Arcade screen I can only initiate View and then I get to screen I'm not able to do any action (icon + title only). So it virtually act as Steam game launcher.
• When I click on profile icon, new window opens briefly (split of second) showing some buttons (pointing to my profile, Invite Friends, Friend Requests and then it changes to error message: Cannot Connect. The page couldn't be loaded. try again. Retrying does not help.

Obviously I do not have any network connectivity problems, I can perform from my network similar operation in Games app on iPhone without problem. Issue on MacBook Pro M4 Max.

Anyone experiencing similar problem? Any known solution?