Hi! I have the same problem, but only with Quick Launch or Project Launcher. When I click Package Project, it works fine, the .apk file includes all the cooked content and I can install it with SideQuest.
But when I want to use Quick Launch to run it on the Quest 2 immediately, the result .apk file is much smaller, and I get the infinite loading screen with the Unreal logo. If I press cancel and then run the game in Oculus Quest it works. So it’s not such a big problem but I want a Quick Launch works for faster tests.
Seems like it can’t find the cooked content for the first launch from the editor, but somehow find it when I launch from Quest.