You can try a network reset. (assuming your on windows 10)
- Select the Start button, then select Settings > Network & Internet > Status > Network reset.
- On the Network reset screen, select Reset now > Yes to confirm. Wait for your PC to restart, and see if that fixes the problem.
The error you posted is not isolated to just Elite Dangerous. Other games have experienced the same issue.
Most of the time they get out the issue by repeated attempts like you stated. So it leads me to believe that error happens because there is something wrong with the computer in question, or the servers for the game are down. As others are connected to ED it eliminates this being a server issue.
Also Network adapter corruption can lead to the error ‘Failed to initialize network’
Updating network adapter drivers could help that.
If you are unsure how to do this manually you can use programs like DriverEasy
https://www.drivereasy.com/kb/DriverEasy_Setup.exe
And lastly if on windows 10, you can try to ensure it is updated.
select
Start >
Settings >
Update & Security >
Windows Update , and then select
Check for updates. If updates are available, install them.