Failed to import .ogg sound files

Tried to import a short (10 second) .ogg audio file made with Audacity and get the following error.


Failed to import ‘E:\DemonHuntProject\swell 3.ogg’. Failed to create asset ‘/Game/swell_3’.
Please see Output Log for details.

Log doesnt actually say anything…

I was able to import .ogg files just fine in 4.26, but now that I migrated the project up to 5.0 it doesnt seem to work. I can still import .wav files.