Hello,
Your symptom matches a known change in Windows 11 where, starting with version 24H2, the in-box Windows Sandbox hands off to a newer Windows Sandbox app delivered through Microsoft Store. If the Store cannot be reached or the update is still pending, launch can sit at the logo and then time out with 0x800705B4.
Do this to get it working again.
Open Microsoft Store, go to Library, select Get updates, and let the Windows Sandbox app update install completely. If you do not see it in Library, search Microsoft Store for Windows Sandbox and choose Update or Install. Keep the Store open until it finishes, then launch Windows Sandbox again. If your network or policy blocks Store access, connect to a network that allows Microsoft Store and repeat the same steps.
If that does not resolve it, tell me and I will guide you through the next step.