The right value of Target should be like this (your path might be different with mine, below is just an example of mine): 'C:\Program Files (x86)\Microsoft\Edge\Application\msedge.exe' Please make sure there's only the path of Edge exe in the Target value. You can refer to my steps above to check your Edge Target value in Microsoft Edge Properties.
Right click Microsoft Edge then click Properties.But I can reproduce your issue with the steps below: The right behavior of clicking on 'Microsoft Edge' should be opening a new window. It locks the homepage of Edge and tampers the shortcut of 'Microsoft Edge'. From your description, I assume that there might be some malicious software hijacking your Edge browser.