Missing materials in viewport when converting from 4.25 to 4.26

When I open a 4.25 project with latest 4.26 preview my materials go missing in the viewport. Yet if I inspect the actual materials in the instance editor I can see all the Texture Maps.

What gives? How do I get my materials to show up?

Am using Megascan textures and materials.

The error I see is


Try uncheck “Crack Free Displacement” is a bug in UE 4.26 preview 7

Thanks. That was it!!!