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For those running into the black screen freeze when hatching eggs, I'd try switching emulators.
I'm playing on my Steam Deck via Emudeck. The default emulator for GBA is mGBA. I was getting the freezing issue here. I switched the game over to VBA-M and the egg hatched just fine.
I actually just started playing through this a week ago, so it's kinda cool that there's an update now. I'm finishing up Kanto now, just have the water routes and Cinnabar before last gym & Elite 4. I've updated my game to 5.0, so I'll let you know if I encounter any issues as I progress.