New IDE not doing anything

I have been using Arduino 1.8.19 for a while now and figured I should try the latest IDE. Everything seems to work, except for the fact that after compiling the uploading to the device (e.g. an ESP8266) never finishes. It just gets stuck on the 'uploading' message in the botton right corner. When I succesfully program the device with the old IDE I do not get any signal on the serial monitor either. What am I doing wrong?

To use ESP8266 with IDE 2.0.3, follow this guide Installing ESP8266 NodeMCU Board in Arduino IDE 2.0

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