This PC has the Intel Iris Xe Graphics "card". I understand this is not a dedicated card, but is integrated in with the CPU. I presume it has to do with power savings as this is an EVO machine.
FIX: I simply did an Alt-C, select Hardware Acceleration and deselected the option for 'Enable hardware decoding'. The problem was solved and no more crashes. Although, I have not put this PC and PD 365 to a full test yet. I did trim and render one 4K video.
Additionally, I did enable the 'Enable OpenCL technology' option under Hardware Acceleration. Under Display, I am able to use Ultra HD Preview Resolution and Real-time Preview without crashes.
If you have a new machine with an integrated GPU or an EVO box, and you are experiencing crashes when ou place a video clip onto the time line, turning off the Hardware acceleration options.