Afaik Steam does refund games if you tell support that you spent time troubleshooting or waited for the launcher to download the actual files.
Though I only think to have read about it. No concrete proof.
Years ago, I tried cities skylines on a sort of shitty PC… spent at least 8 hours trying to get it to work, then just gave up.
Requested a refund and it was granted almost immediately.
I bought a better PC and repurchased, and not it runs fine but the game itself is pretty mod dependent and I have spent more time installing and uninstalling mods than actually playing the game.
So yes, ask for a refund and you will probably get it even outside the 2hour window.