Thank you for your support all this while. The issue is now fixed in the latest update of InDesign.
Please upgrade to the new InDesign 14.0 from your Creative Cloud Application.
If you are unable to see the update yet, click on the menu (three dots) on the top right corner of Creative cloud app and click on “Check for App Updates”.
Let us know your feedback in the comment section.
An error occurred while saving the commentMike H. commented
Hello Abhinav. I am still experiencing the issue where InDEsign will freeze or crash when I click any pallet option associated to text formatting. I am running latest version (14.0 x64). Checked for updates - none available.