It was mentioned in an earlier post that it was resolved by deleting the “Config” folder within the project folder that gets created. I messed around with it a bit and found that there is one line within one of the configuration files that is causing the issue, at least it was for me. Within the projects Config folder open the DefaultEngine.ini file and go to the **[/Script/Engine.RendererSettings] **section. There should be a setting called vr.InstancedStereo that is defaulted to True. Change this setting to False, save the file and launch the project. It should fire right up after making that change. I tested it several times and that one setting was the one causing this issue for me where a VR project would get stuck at 39% when loading and it was a new default project with the standard settings set. Hopefully this helps others encountering this same issue, best of luck.
2 Likes