Found a solution for the black screen when you are trying to load your games or apps.

Thanks for the suggestion, Clevelandfan97! Currently, there is no solid fix. Some fixes are working for others, but it's not working for everyone. For now, you can reference
the sticky that Mister Cerb made for troubleshooting steps and current workarounds.

You can bypass the black screen by logging out of your gamertag then starting the game/app and then log back in to your gamertag when the game/app is loaded.

No errors were found when troubleshooting and the error message is gone but upon launching it will start the game but freeze as soon as the menus loads, and other times upon launch it will show as a black screen with my cursor showing as the blue loading circle then the crash menu pops up saying the basic "Close app" and "Wait for response". I will try uninstalling and reinstalling the game and possibly that will fix it.

-So when trying to play these games, do you receive a total black screen or a "loading" screen that never loads anything?

Depend on the game. In Assassin`s Creed it`s black screen, while in Prey and Resident evil it`s loading screen.

-This issue has been happening since you purchased your Series S or it started happening some time ago?

This issue start happening a few days after purchasing the console. First game, where I faced with this issue was Mortal Kombat 11.

-And you mentioned that you reset your console. Did you mean a factory reset?

Yes, factory reset with saving all of my apps.

You can find the solutions mentioned in this link to be helpful: Loading issues (stuck on loading screen, long loading times, stuck on black screen, etc...) – Microsoft Flight Simulator Support

Please give them a try!