The manager does not start.
This answer was fist posted in the FAQ on the modding Discord  here.
 here.
The easiest and quickest way to solve it is this:
- Find your mod storage folder (by default it’s C:\Users\<USERNAME>\AppData\Local\Helldivers2ModManager)
- Go into the mods folder
- Delete or move mods out of that folder one at a time and check if the manager is working again
- Reinstall/move back the working mods
- Mod Manager should be working good now