If it were to happen to me, my preferred approach would be:
Step 1: Clear data of Magisk Manager app
Whatever way your Android supports, open the App info page for your Magisk manager app, force stop the app, and clear its data/storage. Reboot (optional). Now launch the Magisk Manager app. If the problem still persists, follow the steps below.
Step 2: ...
If you want to execute an adb pull comand and at the same time monitor the on-device log via adb logcat you can do so by executing each command individually in it's own terminal/cmd.exe instance.
adb is not limited to a single connection (as the MTP protocol is). Hence you can execute two or more adb command simultaneously. Even multiple adb push or pull ...
Alecxs answer (thanks) led me to a different and easier solution.
I uninstalled the manager and tapped on the hidden manager and it opened up with the correct status! Ridiculously simple.
Note to myself :Remember to unhide Magisk Manager before updating next time
install 3rd party app like Link2SD or DevTools
get the pkgname for hidden Magisk Manager
uninstall hidden Magisk Manager from cmd line
adb shell cmd package uninstall <pkgname>
reinstall Magisk Manager