Under Windows 10, the launcher has started to just sometimes turn into a black square for me.
I can still drag it around, minimizing it then maximizing it (using OS controls) can sometimes make the graphics appear again, sometimes I have to close it.
Has been an issue for months. I mentioned it a few times, but CCP has not done anything. They bank on the fact that users should just close and re-open it to fix their programming issues.
It still has its buttons, though. The top right corner still works as the Close Window X.