Reproducible EXC_BAD_ACCESS on Import

I hit a:

Crashed Thread: 0 Dispatch queue: com.apple.main-thread

Exception Type: EXC_BAD_ACCESS (SIGSEGV)

Exception Codes: KERN_INVALID_ADDRESS at 0x0000040004000418

Exception Note: EXC_CORPSE_NOTIFY

Complete log here: https://s.natalian.org/2020-08-02/fcpx.txt

In a reproducible manner whilst importing media on FCPX 10.4.8 (358560) on Mac OS X 10.15.6 (19G73)

Using MacBook Pro (15-inch, Late 2016).

At first I thought it must be my hardware RAM failing or something? But after doing some research, it seemed to be a software issue?! One post suggested to start a new user account, which I did...

And it's able to import the footage fine! So are my local settings / preferences corrupted?

If so how do I clear them out please?

I don't want to move my work to a new home directory.