I got it working now, do any of these steps and check if it worked out for you.
Log out and then close the launcher. Start the launcher and login again and check if the cape is visible.
Check if you are logged in on Microsoft Store with the same Microsoft account you have in the launcher. If not, make sure you login on Microsoft Store with the launcher one.
I got it working now, do any of these steps and check if it worked out for you.
Log out and then close the launcher. Start the launcher and login again and check if the cape is visible.
Check if you are logged in on Microsoft Store with the same Microsoft account you have in the launcher. If not, make sure you login on Microsoft Store with the launcher one.