MS Edge 142.0.3595.65 does not start with anything else but msedge.exe

This is to be considered a critical bug with Microsoft Edge Version 142.0.3595.65, a change in behavior not seen in the prior Version 142.0.3595.53.

External integrations with Microsoft Edge browser are broken since Microsoft Edge Version 142.0.3595.65. This latest version is more strict to the actual command on how it gets launched.

1. Open a Command Prompt 
2. C:\Users\myuser> PATH=C:\Program Files (x86)\Microsoft\Edge\Application;%PATH%
3. C:\Users\myuser> msedge
-> MS Edge does *NOT* launched
4. C:\Users\myuser> msedge.exe
-> MS Edge DOES launch

Others have observed the same with this latest version of Microsoft Edge:
https://www.reddit.com/r/sysadmin/comments/1or1h9k/msedgeexe_will_not_start_unless_entire_executable/

The command to launch Microsoft Edge MUST be msedge.exe. It cannot be just 'msedge' as it terminates with Exit Status: 13. This causes significant impact to business critical applications that make use of Microsoft Edge.