Same issue here too (5.0.3 and just installed the latest Quixel update), not sure if that’s what caused the glitch, but turning off VTs on import fixed the crash for me too. Thanks!
Kinda seems weird that Quixel does VTs on import anyways? I wish that was an on-plugin setting we could just, disable, since it makes little sense for a wide swathe of Quixel asset use cases. Especially when you aren’t running the ultra high res versions.