I don't know what is happening in your specific case. I'm saying though that just because the progress bar says "Channel EQ" and doesn't progress further, doesn't mean Logic is hanging on it's own code - that really doesn't happen in my experience. Leaving aside corrupt projects, it's 95% of the time third-party plugin problems.
There was an iLok issue a couple of years back that could be fixed in the way you describe for specific reasons (I won't go into this in detail here), but unless you're running old iLok code, that's probably not the case here.
In the case of Fabfilter, these have a reputation of being pretty solid, but the environment software is running in is a wild card - I see in your case, you're running a patched macOS on presumably an otherwise unsupported hardware machine (which is the point of patching it), so it's difficult to say what's going on. It could even be something hardware related like RAM issues. But if you feel that the FF plugin (or other ones) is unreliable on your system, you might want to connect with support, they might have some ideas.