I also have such issue for 5.4 and 5.4.2 update and I fixed by disabling in your own project DefaultEngine.ini r.raytracing to false and if still crash change r.RayTracing.ForceAllRayTracingEffects=0
And it will work 100%
I am not sure why unreal should have such bug with an engine that it is used in all gaming industry, but the raytracing keeps unreal crashing so to the unreal developer please check that and try to fix to make the engine stable.