The issue is solved for me now.
Here are the instructions, that I obtained from the Zendesk, just in case anyone else is still facing this issue…
Instructions were:
Some missing or corrupted updates can prevent the app from running correctly.
CLEAN INSTALLATION:
- For step-by-step instructions, go to How to repair or remove and do a clean install of Microsoft Flight Simulator on Microsoft Store.
- NOTE: Make sure to delete all Sim files before re-installing (excluding Community folder content)
Based on this, all the packages are completely downloaded again.
All in all, pretty easy to perform, but takes a while for the downloads.