One thing that I noticed is that icons are only loaded from an icon theme, but not from bundled resources. Compare these two logs:
DEBUG [GLib-GIO] _g_io_module_get_default: Found default implementation winhttp (GWinHttpVfs) for ‘gio-vfs’
INFO [Gtk] look for icon cache in .\share\icons\Adwaita
INFO [Gtk] scanning directory .\share\icons\Adwaita\scalable/actions
INFO [Gtk] look for icon cache in .\share\icons\Adwaita
INFO [Gtk] scanning directory .\share\icons\Adwaita\scalable/actions
INFO [Gtk] look for icon cache in .\share\icons\Adwaita
INFO [Gtk] scanning directory .\share\icons\Adwaita\scalable/actions
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/16x16/actions/
INFO [Gtk] scanning resource directory /example/application/icons/16x16/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/16x16/actions/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/16x16/status/
INFO [Gtk] scanning resource directory /example/application/icons/16x16/status/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/16x16/status/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/22x22/actions/
INFO [Gtk] scanning resource directory /example/application/icons/22x22/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/22x22/actions/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/24x24/actions/
INFO [Gtk] scanning resource directory /example/application/icons/24x24/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/24x24/actions/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/24x24/status/
INFO [Gtk] scanning resource directory /example/application/icons/24x24/status/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/24x24/status/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/32x32/actions/
INFO [Gtk] scanning resource directory /example/application/icons/32x32/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/32x32/actions/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/32x32/status/
INFO [Gtk] scanning resource directory /example/application/icons/32x32/status/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/32x32/status/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/48x48/status/
INFO [Gtk] scanning resource directory /example/application/icons/48x48/status/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/48x48/status/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/64x64/actions/
INFO [Gtk] scanning resource directory /example/application/icons/64x64/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/64x64/actions/
INFO [Gtk] look for icon cache in .\share\icons
INFO [Gtk] look for icon cache in .\share\icons
INFO [Gtk] look for icon cache in .\share\icons
INFO [Gtk] Current icon themes Adwaita hicolor
DEBUG [GLib-GIO] _g_io_module_get_default: Found default implementation winhttp (GWinHttpVfs) for ‘gio-vfs’
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/16x16/actions/
INFO [Gtk] scanning resource directory /example/application/icons/16x16/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/16x16/actions/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/16x16/status/
INFO [Gtk] scanning resource directory /example/application/icons/16x16/status/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/16x16/status/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/22x22/actions/
INFO [Gtk] scanning resource directory /example/application/icons/22x22/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/22x22/actions/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/24x24/actions/
INFO [Gtk] scanning resource directory /example/application/icons/24x24/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/24x24/actions/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/24x24/status/
INFO [Gtk] scanning resource directory /example/application/icons/24x24/status/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/24x24/status/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/32x32/actions/
INFO [Gtk] scanning resource directory /example/application/icons/32x32/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/32x32/actions/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/32x32/status/
INFO [Gtk] scanning resource directory /example/application/icons/32x32/status/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/32x32/status/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/48x48/status/
INFO [Gtk] scanning resource directory /example/application/icons/48x48/status/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/48x48/status/
INFO [Gtk] scanning resource directory /org/gtk/libgtk/icons/64x64/actions/
INFO [Gtk] scanning resource directory /example/application/icons/64x64/actions/
INFO [Gtk] scanning resource directory /org/gnome/Adwaita/icons/64x64/actions/
INFO [Gtk] look for icon cache in .\share\icons
INFO [Gtk] look for icon cache in .\share\icons
INFO [Gtk] look for icon cache in .\share\icons
INFO [Gtk] Current icon themes hicolor
The difference between them is that in the first run .\share\icons\Adwaita
exists, but not in the second. You can see that it does “scanning resource directory” for the correct paths, but only for raster image resolutions and not scalable ones. The scalable icons for some reason are only loaded from an actual directory, i.e. the icon theme.