Apply Displacement to Megascans 3d Assets in 3ds Max with V-ray

The default V-ray material that ships with the Megascans plugin for 3ds Max does not apply displacement to 3d assets. This is because the material setup has been designed to fulfil the baseline setup required to exhibit a basic but complete and requisite appearance.
This baseline setup is a requirement of every 3D asset in the Megascans library and therefore serves every 3d export properly and completely in terms of a basic appearance.
However, certain 3d assets demand additional adjustments to get a credible appearance. Should you find a 3D export lacking in detail, you may incorporate the following additional adjustments to the material setup to get the desirable appearance.

• First, export your 3d asset from Bridge to 3ds Max.
• Next, open the Material Editor to view the material setup.
• Add a new VrayHdri node and assign it the Displacement map associated with the asset.
• Set the Colorspace to Inversegamma and keep its value to "1.0".
• Plug it into the Displacement input of the VRay Material (as shown in the red highlight below). 

• Add another VrayHdri node and assign it the Bump map associated with the asset.
• Set the Colorspace to Inversegamma and keep its value to "1.0".
• Adjust the Multiplier value as per your preference (keep your adjustment between 30 to 100... Quixel follows a default value of 30 on most assets).
• Plug it into the Bump input of the VrayNormal node (as shown in the red highlight below).

• Now add the VrayDisplacementMod from the Modifier list (as shown in the red highlight below).

Keep its attributes to the default settings; Type to "3d Mapping / "Amount to "1" / Shift to "0".
​

• Adjust the Amount and Shift attributes of the Displacement Modifier (as shown in the red highlight below).
• Ensure that Amount is twice the value of Shift (slight variation is subject to desirable appearance).

We have increased the Amount to "4.5" and decreased the Shift to "2.54" (for this particular asset).

Here's how the asset will now look.​

Any remaining lack of detail is only because of a mismatched light setup compared to the Bridge preview.