Old world preset causes loading screen to freeze on Building Terrain

When attempting to load a new world set to the preset "Old" the loading bar freezes on building terrain, near the end of the bar. Each time I try create one the bar will freeze somewhere in the last 5th or 6th of the bar, and will not go further. I'm unsure what causes this as if a friend creates a old world, I can join that world perfectly fine without any issues, but whenever I try create one it just can't generate the terrain.

I have attached a screenshot of what the bar looks like, it has been at the exact same location for the past 20 minutes.