If you have the V2 cable:
Also look at this post where crashes with the HP Reverb were reported as fixed: MSFS 2020 Crash in VR - HP Reverb G2 - #338 by Speler596679479
Other are reporting blackouts with a return to VR after a few seconds. I would suggest checking your USB settings in the BIOS in either case just to rule out that it is not set to ‘AUTO’ or ‘GEN4’. The Reverb only works with setting ‘GEN3’ in the BIOS.