Turns out this is a problem with the plugin itself, but also the WWise automatic installer.
The plugin has not been configured correctly with respect to it's dependencies and will crash if the Data Asset Validation plugin is not enabled (but nothing will prevent you from disabling it). It also has an erroneous dependency on the Matinee to Sequencer converter plugin, which must be enabled even if Sequencer itself is disabled.
Audiokinetic needs to fix the dependencies configuration, and installer should be updating the uproject file to ensure that other required plugins are also enabled.