While it doesn't crash, the point cloud it generates is corrupted. This is likely due to some overflow in the PCL PLY parser.
Artifacts:

How it should look instead:

I will rewrite the PCL loading code and add the ability to do stream read/writes, so that the point cloud does not need to be loaded in memory all at once.
Or perhaps using the PDAL C++ API.
By using PDAL we could remove the unnecessary step of generating a PLY file and we could go directly to LAZ by passing the SRS as a param to odm_georef.
Could speed that step up a bit too.
I came across same issue...Below are the screenshots. 1201 images and point cloud had 217.77 million points and size 9.2 Gb.
Georeferenced point cloud Vs normal dense point cloud:

It also created some other point cloud below like this:

Hope the pull request in - https://github.com/OpenDroneMap/ODM/pull/929/files
solves this problem. Will test it.
Thank you.
I have tested it and found that the geo-referenced point cloud came good. Thank you @pierotofy .
Thanks for testing @garlac!
Out of curiosity, what environment did you test this on? (Windows, Linux, Mac, and was it with docker or native?)
@dakotabenjamin do you need more time to test #929?
It was Linux env and native install. 64 Gb RAM 12 cores.