Have you tried switching from directX12 to DirectX11? Does that still give you a crash? As @Arodi007 asked, it may be necessary to update drivers and to see what your particular GPU can handle.
I am having the same issue. However I need directx12 because 11 doesn’t support lumen and nanite which my project has to use (I am on a team and to switch back would entirely derail the project). I have updated all my drivers and have also tried switching from studio to game drivers. I have a NVIDIA 3070 ti that has been running fine since I got it, and has no issues with frame rate or anything to be honest. I contacted NVIDIA and they were no help.
Double check if unreal is installed in your main ssd where your OS is.
Check if your ssd is healthy using Hard Disk Sentinel or Samsung Magician(if you have samsung ssd)
If you have an Integrated gpu, remove your rtx and connect your monitor to your motherboard, ue5 should normally run but will look bad (just to see if it crashes the same way)
Re install unreal 5
Re install on windows 10 64 if still nothing change.
