Adobe have released a bug fix update for Lightroom Classic 12.0. This build was released to address a number of issues identified by customers in the original build. In addition, this build will fix a conflict which prevented launching of the application when catalog is installed on external storage on Mac systems with the recently released macOS Ventura.
The list of bugs fixes included in 12.0.1 are as follows:
1. Unable to export: Watermark Failed
2. Issues on macOS Ventura when using catalogs on external storage
3. LrC 12 builds do not backup the lrcat-data file
4. Unable to view ‘System info’ on some Windows machines
5. Fixes for Crashes observed in LrC 12.0
The update must be installed using the Creative Cloud Application.

Alert displayed when LrC 12.0 fails in macOS Ventura
Disclosure: As an Adobe Community Expert I receive a free subscription to Adobe Creative Cloud