I vaguely remember similar problems with Lands of Lore on a 486DX2. I think the issue was solved by installing a CD version and a 1.02 patch for it

Both work fine for me with my 233mmx build - no slowdowns or other tricks needed.
Lands CD version updated to 1.02 or floppy version updated to 1.23 and Kyrandia 2 CD version just works (don't have the floppy version of it), both installed from original media.
I think you are missing updates

Have you checked PCGamingWiki or elsewhere for patches?

I played 🤣 on a Pentium 200MMX overdrive system without any problems, so it shouldn't be an issue with Pentiums. I used the GOG version, it has an ISO to burn a full install CD, fully patched as far as I know.

2. Lands of Lore: Throne of Chaos which soft locks up at a black screen after character selection
Is this a download version ?`

i have original floppy version and its fine. No patch.
before i got one as download which has exactly this issue.

Both are illegal download versions. I own both games on GOG but I didn't know how to transfer them to my DOS PC. How does this burning to a CD and installing from there thing work with the installers if I may ask?

Instructions for Lands of Lore on the Google spreadsheet database here: Digital DOS games (GOG, Steam...) Retro PC Compatibility Sheet: We need your input!

I'm not sure Kyrandia will work on a real DOS machine. I believe it's using SCUMMVM and often they remove the executable. But sometimes they don't. Look at The Dig on that spreadsheet as a reference. It is a SCUMMVM game but works in real DOS. Maybe you'll get lucky and Kyrandia will too.