Having this issue as well, reverting back to build 4152 fixes the issue. Also a corporate environment. Builds 4169 and 4180 are affected, though I haven’t checked 4166 yet. Running as local admin makes no difference.
Checked our security software, it’s not alerting on Sublime Text or plugin_host*.*.exe as far as I can tell. I’ll ask our sysadmins on Monday.
Interestingly I can induce a positive race-condition of sorts and somewhat launch Sublime Text, though with plugin-hosts non-functional (as they crash outright), by (rather stupidly) launching Sublime Text a bunch of times. Usually three launches in quick succession does it, though sometimes more. Sublime Text eventually launches doing this, though without plugin support.
Running through ProcMon (Process Monitor) is showing both plugin_host executables generating crash dumps. Hunting through Event Viewer is showing both Sublime Text and each plugin_host generating crashes of their own, mostly with access violation exceptions in ntdll.dll.