ChromaEffects failed to initialize DXGI_ERROR_DEVICE_REMOVED

Got a Radeon RX 5700 XT and the game is failing an random on me (running at 4K). Sometimes even just opening the menu, switch screens or running some dungeon for the 10th time. Reduced the level of detail from high to medium which made it more stable.
Sometime screen freezes - yesterday I completed one of the rooms while screen was locked (screen setting Fullscreen), switch away, came back only to run into the next crash where the game froze. PC reset.
Sometimes it even crashes just starting, with the the crash pop-up
Did a ram check as suggest by the web but came back ok.

Error is always the same:

I 2023.03.19 05:45:08.827777	[Game] ChromaEffects failed to initialize
E 2023.03.19 05:45:09.696828	[Game] pm_dxgi::Instance::Present: Present Failed - Error : DeviceLost, SystemCode : 0x887A0005 (DXGI_ERROR_DEVICE_REMOVED)
E 2023.03.19 05:45:09.696842	[Game] [Prism] Present Failed - Error : DeviceLost, SystemCode : 0x887A0005 (DXGI_ERROR_DEVICE_REMOVED)
E 2023.03.19 05:45:09.696846	[Game] [Prism] pmCmdQueue::Present() - DeviceLost, Device removed reason : DXGI_ERROR_DEVICE_REMOVED
E 2023.03.19 05:45:09.696848	[Game] [Prism] Device removal detected.
----------------------------------------------

I 2023.03.19 05:45:09.697038	[Crash] GetLastError() = 0
The operation completed successfully.


<ERROR-0>
<no message>
</ERROR-0>

I 2023.03.19 05:45:10.096767	[Crash] Thread 'RenderThread' handling fatal error
E 2023.03.19 05:45:09.810487	[Game] pm_dx12::Device::InitTexture: CreateCommittedResource Failed - Error : DeviceLost, SystemCode : 0x887A0006 (DXGI_ERROR_DEVICE_HUNG)
E 2023.03.19 05:45:10.096803	[Game] [Prism] pmDevice::CreateTexture() () - DeviceLost, Device removed reason : DXGI_ERROR_DEVICE_HUNG
I 2023.03.19 05:45:10.098887	[Crash] UnhandledExceptionFilter
I 2023.03.19 05:45:10.099023	[Crash] Crashed thread: 'RenderThread' (0x119c)

This is no fun :frowning: Any help would be highly appreciated.

Cheers!

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