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Open up Acrobat's Preferences, then go to the "General" tab and disable the two "Show online storage..." options. Does that make the dialog work again?
Many thanks Karl. This produced the screen with the File Explorer folders. Worked the first time, hope it continues!
It should keep on working: The delays / missing information was caused by Acrobat trying to connect to Adobe's online service. That was slow, and that's why things did not work. By turning these two options off, your Acrobat is no longer trying to connect to Adobe's cloud services.