Dragging stuff from Content Browser to viewport freezes UE4

Just to chip in here, I see the same behavior since 4.7.4 I believe. I thought the Kite Demo pack was causing this, but then I started looking at the forums after it happened on a plain 3rd person template with starter content.

Memory is definately not an issue, nor is the asset huge (I can reproduce this by right-clicking a Material that was never applied - after a brief hang of the whole editor, the “Compiling Shaders” box pops up and everything works as before).
But after the asset has been placed in the cache, it works just fine; so I’m assuming something changed with the caching stuff.