@Voltaic - Thanks for your comment. So I was able to figure out what was causing this issue and (for me atleast) either Chome or CleanMyMac. It is the clip from the GoPro, and the HEVC/H.265 compression codec that the Hero 10 (and I assume the Hero 11) uses for the 5.3k resolution video. I did call Apple support and esclated through a couple of tiers until I got someone who told me the issue was with the clip, but I didn't believe them at first and kept digging to see if I could figure out the root cause myself.
According to the release notes for Final Cut, as of 10.4 it only supports HEVC video from Apple devices.
Final Cut Pro release notes - Apple Support
To confirm this was the problem, I took the 5.3k clips that were causing Final Cut to stop responding and converted them to use H.264 compression at 4k resolution using Handbrake. All of the clips I coverted worked normally and Final Cut didn't stop responding and crash.
This article outlines the settings to use in Handbrake (which is free) - https://havecamerawilltravel.com/gopro/convert-hevc-h265-video-codec
This is a paid app also that can covert HEVC/H.265 that claims to be lossless - https://videoconverter.wondershare.net/ad/wondershare-video-converter-ultimate.html
Sometime I can play the 5.3k clips back with Quicktime, sometimes they cause it to stop responding also and require a force quit.
Hopefully Apple will add HEVC support for video from non-Apple devices, but who knows when that might come. It seems that a pro-level video editing app should have support for the codec. Buying the Hero 10 kind of seems like a waste now since I can't shoot anything in 5.3k. You can change the codec setting on the GoPro to shoot H.264, but it only is available for certain resolutions, but 4K 30 FPS is supported for it. For the full list check out this article - https://havecamerawilltravel.com/gopro/gopro-hero10-black-hevc-h-264/.
I meant to add these details to this post so thanks for the reminder, hopefully this info helps you as well,