QtPass never finishes generating GnuPG key pair

Upon first start, QtPass asks the user to generate a new GnuPG keypair. User is informed that "This operation can take some minutes." However, nothing changes even after 30 minutes.
This only occurs while launching QtPass for the first time.
This occurs both in live session and after installation on bare metal.

Steps to reproduce:
1. Launch Lubuntu 21.10 in a live session
2. Launch QtPass from the Application Menu
3. Under "Generate a new key pair" fill the fields "Email", "Name" and "Passphrase" (repeat the passphrase)
4. Press "OK"
5. Wait for the keypair to generate

Result:
The keypair generation does not finish

Expected result:
Content of the "Generate GnuPG keypair" changes after max 10 minutes and user is instructed about the follow up action

Reproduction rate:
4/4

QtPass version:
1.3.2-3

Ubuntu release:
Lubuntu 21.10 _Impish Indri_ - Beta amd64 (20210927)

Hardware:
Lenovo Yoga 300-11IBR (Intel N3060 1.60 GHz, 2GiB RAM, N3060 integrated graphics)

ProblemType: Bug
DistroRelease: Ubuntu 21.10
Package: qtpass 1.3.2-3
ProcVersionSignature: Ubuntu 5.13.0-16.16-generic 5.13.13
Uname: Linux 5.13.0-16-generic x86_64
ApportVersion: 2.20.11-0ubuntu69
Architecture: amd64
CasperMD5CheckResult: pass
CasperVersion: 1.465
CurrentDesktop: LXQt
Date: Tue Sep 28 19:41:32 2021
LiveMediaBuild: Lubuntu 21.10 "Impish Indri" - Beta amd64 (20210927)
SourcePackage: qtpass
UpgradeStatus: No upgrade log present (probably fresh install)