I somehow overlooked, that you could actually execute the code with the non-debug Target. Sorry.
Apart from the advice from @ollydbg to watch the log:
Since compiling the Debug Build target fails, please compare the settings in project|Build Targets with the target that builds sucessfully.
Inspecting the commandline might also give insights: please change settings|compiler|other settings|Compiler logging: temporarily to "full command line".
I tried cb on Windows briefly many years ago. No idea whether Windows 11 may pose a problem.
Can you compile, link, run and debug a "Hello, world"! in debug-mode? As a program with no additional dependencies. Preferably at first without cb, just from the commandline. Only then in a minimal cb console project without any extras.