I think the logical behavior for

$C:\emacs\bin\emacs.exe --script test.el

would be the same as for

$C:\emacs\bin\emacs.exe --script test.el < NUL

Currently,

$C:\emacs\bin\emacs.exe --script test.el

is still interactive -- the process doesn't finish unless user inputs ^D interactively.

Best wishes,

Andrey Paramonov