Adding a third (3rd) Office 365 account crashes the application (Reproducible!)

Problem

After succesfully adding two (2) Office365 accounts (OAuth2), the third (3rd) one (also OAuth2) ends up crashing the application after showing an error:

Mailspring could not store your password securely. For more information, visit http://support.getmailspring.com/hc/en-us/articles/115001875571

Context

The article linked in that message states that this should only really happen after adding “a dozen or so” accounts. To me, a dozen or so, does not mean three (3).

I’ve tried two different computers, both installed Mailspring for the first time ever. Added a combination of different Office365 accounts to make sure it’s not the Office365 account that’s messing things up.
Unfortunately, every single time I get to adding the third (3rd) account - the above error occurs.

I’ve also tried removing the Mailspring credentials from Credential Manager to try again on both computers - but to no success.

Email Provider

Microsoft Office 365. All accounts used in above examples are licensed with either Business Premium or Exchange Online (Plan 1).
All accounts work perfectly - until you add a third (3rd).

Setup

  • OS and Version: Microsoft Windows 11 Enterprise 64-bit (Build 22000) & Microsoft Windows 10 Enterprise LTSC 64-bit (Build 19044)
    • Installation Method: Installer from website.
  • Mailspring Version: 1.10.3