Have had this nagging problem off and on for years and I've seen posts about it but the cause always seemed to be a mystery. We were able to narrow down the cause for our case, so I thought I'd post it on here.
Essentially, the problem was a symbolic link (or junction, in windows terms) formed a loop in the source directory structure under one of our projects in the workspace being tagged. The project was set up with the source file filters (*.c, *.cpp etc) and the option for these filters had "Recurse" set to "1". Obviously, this caused Slickedit to re-process the same files over and over (probably only limited by some internal slickedit limit on path depth). In our case, it was the build for nodejs living under a couple of our projects that was creating these links at build time.
Can't really blame Slickedit for this since a loop like this would probably be difficult to detect. But the un-cancelable tagging window on exiting Slickedit seems like a Slickedit bug and I know it's been there since at least 26.
Hopefully, Slickedit devs can now re-create the problem by creating a few of these recursive symlinks and reproduce the un-cancelable tagging window on exit.
Should also add that I'm on Slickedit Pro 2022 (v27.0.2.0 64-bit Qt5) under Windows 11.