Same problem here. Mac Studio Ultra, completely freezes up. 4.27.2/5.0.1 & 5.0.2. Freezes the entire operating system, not just the unreal program. Only way to recover has been to reboot with the power button.
I set up a secondary monitor and moved the MAC Force Quit Application to that screen. Unable to force quit Unreal Editor when the application freezes.
Have also tried detaching and reattaching the monitor when Unreal freezes. This appears to force the MAC to sleep and requires you to log in again. Also forces the Unreal editor to quit.
Also enabling (Security & Privacy/firewall/allow incoming connections) for Unreal Engine, EpicWebHelper & Epic Games Launcher. UE5 still freezes machine.
Tried turning off firewall completely and Unreal still freezes.
*Note. Mouse disappears when program freezes, however if you have two screens set up the mouse and OS will continue to work on the screen not displaying the UE editor, but unfortunately force quitting the application does not work.