I’m relocating countries at the moment and I can’t investigate further, however it seems VT are boned. You can convert existing textures, and change the samplers in the materials accordingly, however theres either a memory leak or something isn’t being flushed because memory usage skyrockets during conversion. While working on a large project with satellite data I had to be careful about how many I was converting in any given Editor session otherwise my system (with 128gb RAM) would just hang (I left it overnight to check, it doesn’t get better). Additionally, when loading a level using them the same issue occurs with memory usage, although generally it will just crash.
As a test case i’d recommend converting the Kite Demo to use VT, or simply duplicate an 8k texture 1000 or so times and try converting them.