Can you actually see the "MODS" slot on the default menu?
1) If yes, uncheck all and restart for verification.
-- If it loads fine after this little reset, it means one (or more, btw) of your pre-patch MODS are interfering with WB. In this case, you have to wait for the Modders to fix their stuff to re-integrate their features in the (v1135) SDK assets.
-- If it doesn't then;
2) IF not, the install process might have failed.
-- In which case, re-install might fix it.
3) IF neither, then it might be OS/DX/VB/WINSXS/SQL/NET related... these pre-installed components are also vulnerable to MS updates and while i doubt (extremely) a flaw looped in from Steam, there's no way for me or anyone else to check how your system is managed. Including security concerns, btw.
4) IF all else fails. Try contacting Steam/2K support for help... but get ready for a wild ride of patience and much more detailed technical mumbo-jumbo than the above.