Hey Colin, this won't be encouraging... but I feel I must reply. I have had approximately 6-8 phone calls with the ESRI folks about this and we have done Zoom sessions to try and work through the issue. We have literally tried everything they could think of and still it crashes in the same place. The workaround for me is to just run in the ArcGIS for Desktop which I am fortunate to also have through my school. The last thing the ESRI support guy had me do is to uninstall my antivirus and try to run the analysis again. Didn't work. He is at his wits end too. I have been working primarily with one guy about this and he definitely knows his stuff... and when I say we have tried everything, I mean it. He recreated the environment that I have on my laptop in his studio and he didn't have any issue running the statistic. They are pretty settled on it being a machine specific issue... but it's so strange because the other spatial statistic tools work in ArcPro and the optimized hot spot works fine in ArcGIS for Desktop. I have been dealing with this for several months and my dissertation is riding on being able to do this analysis... I will have to use my ArcGIS for Desktop which is fine I guess or use another machine on campus -- but that's not exactly convenient with COVID right now. I'm in the vulnerable group and so am avoiding working/schooling on campus right now. I literally bought this laptop I have so I could use the Arc software because I use Mac otherwise. If this is machine specific, I will get another machine (hello higher credit card bills), but geez... this is frustrating either way. As of now, the support guy assigned to my case is still working on trying to figure out other things to do. But we are pretty much at a dead end...
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