I am still facing this issue with spyder 5.4.1. I have spyder kernels 2.4.1 installed in other python env. What is strange is if i open anaconda prompt active the python env containing spyder (and latest 3.11 python) and run spyder from there, change python env containing python 3.7, i dont get any error, but when i run spyder from windows shortcut, i get this error upon switching to python 3.7 env (which has 2.4.1 kernel)

Traceback (most recent call last):
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\spyder\plugins\ipythonconsole\widgets\main_widget.py", line 2136, in create_kernel_manager_and_kernel_client
kernel_manager.start_kernel(stderr=stderr_handle,
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\utils.py", line 30, in wrapped
raise e
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\utils.py", line 27, in wrapped
return loop.run_until_complete(future)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\nest_asyncio.py", line 90, in run_until_complete
return f.result()
^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\asyncio\futures.py", line 203, in result
raise self._exception.with_traceback(self._exception_tb)
File "C:\Dev\python_envs\spyder_5_4_1\Lib\asyncio\tasks.py", line 267, in __step
result = coro.send(None)
^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\manager.py", line 90, in wrapper
raise e
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\manager.py", line 82, in wrapper
out = await method(self, *args, **kwargs)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\manager.py", line 391, in _async_start_kernel
kernel_cmd, kw = await ensure_async(self.pre_start_kernel(**kw))
^^^^^^^^^^^^^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\utils.py", line 30, in wrapped
raise e
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\utils.py", line 27, in wrapped
return loop.run_until_complete(future)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\nest_asyncio.py", line 90, in run_until_complete
return f.result()
^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\asyncio\futures.py", line 203, in result
raise self._exception.with_traceback(self._exception_tb)
File "C:\Dev\python_envs\spyder_5_4_1\Lib\asyncio\tasks.py", line 267, in __step
result = coro.send(None)
^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\manager.py", line 356, in _async_pre_start_kernel
kw = await self.provisioner.pre_launch(**kw)
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\provisioning\local_provisioner.py", line 193, in pre_launch
kernel_cmd = km.format_kernel_cmd(
^^^^^^^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\jupyter_client\manager.py", line 265, in format_kernel_cmd
cmd = self.kernel_spec.argv + extra_arguments
^^^^^^^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\spyder\plugins\ipythonconsole\utils\kernelspec.py", line 107, in argv
get_conda_activation_script(),
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
File "C:\Dev\python_envs\spyder_5_4_1\Lib\site‑packages\spyder\utils\conda.py", line 76, in get_conda_activation_script
if osp.basename(exe).startswith('micromamba'):
^^^^^^^^^^^^^^^^^
File "", line 242, in basename
File "", line 211, in split
TypeError: expected str, bytes or os.PathLike object, not NoneType

@anuragsodhi, please open a new issue about your problem so we can track it there. This pull request is not related to it nor it tried to fix it.