Cannot select dropdown menus in IE11 (4281826)

When launching ControlPoint 5.3 using Internet Explorer 11, dropdown menus and certain fields cannot be selected and the "Please wait while scripts are loaded" message is shown at the bottom-left corner of the ControlPoint application.

The ControlPoint application is not being displayed in Compatibility View or Compatibility View is disabled for the browser.

Perform any of the following:

• Add the URL for the ControlPoint site collection to the list of Compatibility View websites.
• Enable the "Display intranet sites in Compatibility View" option on the Compatibility View Settings page.