So turns out after about a day or so of doing this I started experiencing crashes again.

However, following this guide for Ark: Survival Evolved (also uses the unreal engine) appears to have fixed my issue for good, absolutely no crashes this week.

https://www.reddit.com/r/ARK/comments/17plsn4/possible_fix_for_dxgi_error_device_removed_with/

Please refer to above update section, try that first

My graphics card is a 5700XT 8gb card, above recommended specs for this game on the steam store and since the recent updates I've been experiencing constant "GPU Hangs!" crash + error message. I have tried literally everything I found online relating to this issue to try and fix it, some allowed me to play for 10-15 minutes longer than usual but nothing actually fixed it.

This issue appears to be related to the temps of the GPU getting to high.
appears it might just be an issue across unreal engine games

What worked for me as of today was undervolting my GPU and also tuning the fans using the AMD Radeon software, I have seen online there a quite a few people with 5700XT cards also and this seems to be a common problem for this card.

In the image is my configuration for undervolting and fan tuning, you probably dont need to copy it exactly just tune your GPU and fan speeds to look roughly the same and you should see some difference. After doing this I was able to play for 2.5 hours with no crash, setting a new no-crash record!

Hopefully this works for everyone else because its a very annoying issue.