This worked for me:
(I am not an advanced UE user. Backup any file you are going to change!)
1. With a text editor open the DefaultEngine.ini file which you can find under “yourdrive”\MetaHumans\Config. In the DefaultEngine.ini search for ** r.RayTracing=True** and change it to False. This will disable Raytracing.
**2. **In the same ini search for DefaultGraphicsRHI=DefaultGraphicsRHI_DX12 and delete this line of text. Save the file.
Now start your MetaHumans project, it is going to take some time for shader compilation. Just wait till it compiles all of 8000+ shaders.
After this I had no issues.