Vertex painter crashes UE4 on first use with a merged mesh. You can simply reproduce this with these steps:
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Select some static meshes in a scene.
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Go to Window > Developer Tools > Actor Merging.
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Enable ‘Bake Vertex Data’ option and ‘Replace Source Actors’ option while doing this.
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Click to: File > Save All.
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Try to paint this merged mesh. It will crash.
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Restart UE4 and try to paint again. Now it won’t crash.