I've been having this issue a lot since the recent update as well. Eventually it seems to work but only after crashing several times. Takes like 30 minutes to get out of the nether some times. Sometimes it works fine, then starts happening again. I've been avoiding nether travel but had to go in to get the frog light achievement and have been trying to get out for at least 30 minutes now 😞
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Finally got through after 45+ minutes of trying, what worked this time, and I think in general, is to go into the portal and save and quit. Then load back into your world and it might load you in the overworld. When it randomly worked for me earlier I think it had auto saved while I was in the portal before the crash. It's a workaround still though and we need a fix
I recently finished a project to mine every end stone block of the center end island and encountered this bug many times during the project because I was going into and out of the end a lot. When it happened I always just quit the game and restored my world from a backup because the hour of time lost in that play session is less than the many hours it would take me to replace all the gear I was carrying with me. I was not usually wearing elytra when the issue happened, just running and jumping into the portal.Â
I also eventually implemented a protocol for entering the end that I would recommend for players who encounter this issue a lot and have already defeated the dragon. Put an ender chest by the portal in the stronghold and another one in the end by the obsidian platform. Put a bed by the portal in the stronghold. Before entering the end always put everything you have in the ender chest and set your spawn point on the bed. Hop in and if you spawn over the void you only lose your experience and will respawn back at the bed and you can keep trying until it puts you at the normal spawn point. Then grab everything out of your ender chest in the end.
I was having this issue a lot on my oldest PS4 world (~700MB world with lots of stuff). Something that I have discovered however is that the issue never happens when I have a second controller on and playing the world, so now whenever I am going to go through a nether portal I always turn on my second controller and have it join the world. Having the second player in he world can make the performance of the game a little worse but better that than the game crashing.