If the file has version-incompatible settings issues in it, it could cause a problem. Also, check your available disk space and RAM, including video RAM, useage. Poser takes quite a bit, especially on large files.

You might want to try deleting your Poser preference files. This will do no more than reset Poser's prefs to factory default conditions. (Make sure to go back and reset things like binary morph target settings to where they were, though!) To do this, follow these instructions: https://support.smithmicro.com/customer/portal/articles/1982174-solving-weird-issues-with-poser-by-removing-the-preferences?b_id=8847

Lastly - If you've changed up how Poser is using/storing morph targets or you've done everything externally and you've got a different directory structure, now, that "might" cause a problem if Poser just can't find everything.

"Version Control" in Poser is more of an afterthought, limited to one line in common file inclusions, that really doesn't do much, I don't think, other than give a message to the user if they have a version that is older than the one the file was created for... It's so useless most vendors just set everything to Poser 4 in that line so their customers aren't bugged by unnecessary warning messages... (Well, the good ones do, at least.)