emacs invoked with "runemacs -Q " and also "emacs -Q" commands. So no configuration files are loaded. Rendering issue is not specific to any particular org file. It is general to all org files. The following message is shown in the message buffer
(Shell command succeeded with no output)
I am attaching a simple org file. The rendering issue is seen in this file too. In this particular case, the hyperlinks are not rendered. Font-lock / faces also failed to render.

N.V.Shibu
Assistant Professor 
Sri Ramakrishna Institute of Technology
Coimbatore-10.


On Fri, Sep 18, 2020 at 9:27 AM Ihor Radchenko <yantar92@gmail.com> wrote:
> Emacs is invoked using runemacs.exe -Q. The org file is loaded in buffer
> using C-x C-f. But the org file is not rendered in the buffer.

Could you provide the problematic file? Or better the part of file
causing the issue?

Best,
Ihor

"Shibu N.V" <nvshibuse@gmail.com> writes:

> Remember to cover the basics, that is, what you expected to happen and
> what in fact did happen.  You don't know how to make a good report?  See
>
>      https://orgmode.org/manual/Feedback.html#Feedback
>
> Your bug report will be posted to the Org mailing list.
> ------------------------------------------------------------------------
>
> Emacs is invoked using runemacs.exe -Q. The org file is loaded in buffer
> using C-x C-f. But the org file is not rendered in the buffer. The
> message buffer shows the message "(Shell command succeeded with no
> output)" and buffer shows Org-mode enabled. To render the file, either
> the file needs to be reloaded in buffer or M-x org-mode has to be issued
> .Also tried with latest stable release of org 9.4 Working perfectly in
> Emacs 26.3 windows binaries
>
> Emacs  : GNU Emacs 27.1 (build 1, x86_64-w64-mingw32)
>  of 2020-08-21
> Package: Org mode version 9.3 (release_9.3 @
> c:/ProgramFilesh/emacs-27.1-x86_64/share/emacs/27.1/lisp/org/)
>
> current state:
> ==============
> (setq
>  org-src-mode-hook '(org-src-babel-configure-edit-buffer
>      org-src-mode-configure-edit-buffer)
>  org-link-shell-confirm-function 'yes-or-no-p
>  org-metadown-hook '(org-babel-pop-to-session-maybe)
>  org-clock-out-hook '(org-clock-remove-empty-clock-drawer)
>  org-mode-hook '(#[0 "\300\301\302\303\304$\207"
>    [add-hook change-major-mode-hook org-show-all append local]
>    5]
> #[0 "\300\301\302\303\304$\207"
>    [add-hook change-major-mode-hook org-babel-show-result-all
>     append local]
>    5]
> org-babel-result-hide-spec org-babel-hide-all-hashes)
>  org-archive-hook '(org-attach-archive-delete-maybe)
>  org-confirm-elisp-link-function 'yes-or-no-p
>  org-agenda-before-write-hook '(org-agenda-add-entry-text)
>  org-metaup-hook '(org-babel-load-in-session-maybe)
>  org-bibtex-headline-format-function #[257 "\300 \236A\207" [:title] 3
> "\n\n(fn ENTRY)"]
>  org-babel-pre-tangle-hook '(save-buffer)
>  org-tab-first-hook '(org-babel-hide-result-toggle-maybe
>       org-babel-header-arg-expand)
>  org-occur-hook '(org-first-headline-recenter)
>  org-cycle-hook '(org-cycle-hide-archived-subtrees
> org-cycle-show-empty-lines
>   org-optimize-window-after-visibility-change)
>  org-speed-command-hook '(org-speed-command-activate
>   org-babel-speed-command-activate)
>  org-confirm-shell-link-function 'yes-or-no-p
>  org-link-parameters '(("attachment" :follow org-attach-open-link :export
> org-attach-export-link :complete
> org-attach-complete-link)
>        ("id" :follow org-id-open)
>        ("eww" :follow eww :store org-eww-store-link)
>        ("rmail" :follow org-rmail-open :store
> org-rmail-store-link)
>        ("mhe" :follow org-mhe-open :store org-mhe-store-link)
>        ("irc" :follow org-irc-visit :store org-irc-store-link
> :export org-irc-export)
>        ("info" :follow org-info-open :export org-info-export
> :store org-info-store-link)
>        ("gnus" :follow org-gnus-open :store org-gnus-store-link)
>        ("docview" :follow org-docview-open :export
> org-docview-export :store org-docview-store-link)
>        ("bibtex" :follow org-bibtex-open :store
> org-bibtex-store-link)
>        ("bbdb" :follow org-bbdb-open :export org-bbdb-export
> :complete org-bbdb-complete-link :store
> org-bbdb-store-link)
>        ("w3m" :store org-w3m-store-link) ("file+sys")
>        ("file+emacs") ("shell" :follow org-link--open-shell)
>        ("news" :follow
> #[257 "\301\300\302 Q!\207" ["news" browse-url ":"] 5
>   "\n\n(fn URL)"]
> )
>        ("mailto" :follow
> #[257 "\301\300\302 Q!\207" ["mailto" browse-url ":"]
>   5 "\n\n(fn URL)"]
> )
>        ("https" :follow
> #[257 "\301\300\302 Q!\207" ["https" browse-url ":"] 5
>   "\n\n(fn URL)"]
> )
>        ("http" :follow
> #[257 "\301\300\302 Q!\207" ["http" browse-url ":"] 5
>   "\n\n(fn URL)"]
> )
>        ("ftp" :follow
> #[257 "\301\300\302 Q!\207" ["ftp" browse-url ":"] 5
>   "\n\n(fn URL)"]
> )
>        ("help" :follow org-link--open-help)
>        ("file" :complete org-link-complete-file)
>        ("elisp" :follow org-link--open-elisp)
>        ("doi" :follow org-link--open-doi))
>  org-link-elisp-confirm-function 'yes-or-no-p
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
>
> N.V.Shibu
> Assistant Professor Senior Grade
> Sri Ramakrishna Institute of Technology
> Coimbatore-10.