Answer:
The reason for the website crash when running the Setup Wizard was there was older PHP handler htaccess code saved in BPS Pro Root Custom Code. Also on this particular host server running PHP 7.4 and API: LiteSpeed CGI the PHP handler htaccess code below is required in the root htaccess file in order for the site to load. This LiteSpeed PHP handler htaccess code goes in this BPS Pro Root Custom Code text box: 1. CUSTOM CODE TOP PHP/PHP.INI HANDLER/CACHE CODE.
# php -- BEGIN cPanel-generated handler, do not edit
# Set the “ea-php74” package as the default “PHP” programming language.
<IfModule mime_module>
AddHandler application/x-httpd-ea-php74___lsphp .php .php7 .phtml
</IfModule>
# php -- END cPanel-generated handler, do not edit