Same thing is happening to me. I don't know if it is related, but I added two settings to Engine.ini to mitigate the amount of distance blurriness as it was messing with my eyes and giving me a headache.
If it helps, I added the following:
[/script/engine.renderersettings]
r.DepthOfFieldQuality=2
r.DefaultFeature.MotionBlur=2
I have been able to bypass this problem by disconnecting from the internet and loading the game. After which it loaded once, then back to stuck loading like the OP.