I think there is solution for my problem right here: UE 4.11 Hangs Cooking on Macbook Pro - Programming & Scripting - Unreal Engine Forums
I stumbled upon this today and was surprised someone has exact issue like me. Good thing is that mbehensky found a fix for it. I didn’t want to reply in here just jet, until i try to patch it myself, but since you responded i just wanted you to know that i am upon something. mbehensky gave some directions i should take for patching that and I will try to fix this myself , fingers crossed. =)
Also i don’t get “ini setting was out of date” message anymore, i believe that went away with update 4.11.1.