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Level crashes on launch when Ray Tracing On

Not sure how to debug this issue.
I have a level with a large number of static meshes and baked textures. With Ray Tracing disabled in my project it loads fine.

However if I enable Ray Tracing and re start the editor, re open the level it always crashes on launch.
I need to delete my Config folder to get my Project Settings back to their defaults (Ray Tracing Off)

What steps should I try next to try and debug?
If possibly memory relates should I enabled Texture Streaming?