I found a way that worked for me.
How to Fix Oculus Rift S Black Screen Issue
Go to the oculus app and it should prompt you to enable automatic openxr runtime.
If not, check anyways by going to:
- General tab.
- Enable automatic openxr.
Next, put steam into big picture mode>open the left side start menu> settings> go to system (there may be a yellow exclamation icon) and update that.
Restart your computer and try launching the game.