So finally after days of agony and frustration I have finally seem to fix the issue with crashing Win10 when connecting to HD500X. Just to let you know I had called Dell support but they couldn't help. Called Microsoft support, had several sessions with their tech support for the past 3 weeks and still they couldn't figure out why it was crashing. So as a last resort I had to do this:
I reset my Win10 from the settings menu (with option 'keep your files'). Well, Win10 was reset but half of the essential apps that were suppose to come with Win10 were now gone missing. Finally found a way around to get the Win10 updated again but this time from the Microsoft website directly. This time had a nice and clean install and all the apps appeared again in the system. But now Line6 Monkey wouldn't work after I reinstalled it, and it would only give me an option to connect to PODxt. Plus my Google Chrome wouldn't load any pages and was not able to install some other apps from the MS Edge browser. Something fishy was going on. Almost two days of frustration and playing with the firewall in Windows Defender still the problem wasn't solved. Then lo and behold, I found that this piece of s*** McAfee anti-virus was still running in the background although it was not being displayed in the systems tray. Tried to uninstall it which pretty much failed because you know it's McAfee. So I had to manually stop mcafee services from the Task Manager and then delete all mcafee files and folders from under Program Files. But that wasn't enough either. I also had to manually delete all the registries that had 'mcafee' in it by doing 'regedit' as I didn't want any traces of mcafee on my system. It was a very long and tedious process but you may not even have to do it.
So I hope this issue is fixed for good. You can try these two things in order:
1) Uninstall any bloatware kind of anti-virus from your system (such as McAfee). Kill the services and processes of it and then try to see if it still crashes when you connect to POD. (Windows Defender is much better than all other ant-viruses that I have seen. And it's free)
2) If above still doesn't work then reset your windows.
Hopefully the issue will be solved.