Hello Fezvez,
If you still want to try cutting out assets/features/components to isolate the problem, you could go to the directory the project is stored in and remove them from there. It’s going to result in some errors, naturally, but if you find the problematic asset that way it should allow you to open the project If you prefer, you could even remove the potentially-problematic assets/features/components from the 4.6 version of the project and then convert that copy to see if that fixes the problem.
Another solution would be to try ‘converting’ the project by creating a new project in 4.7 and moving assets over individually.
Let me know if that helps.