I tried this and the first time, it worked perfectly. I had all my expansion packs, Mods and CC's working perfectly and there was no issue...for one day. Then the whole endless loading screen happened again. I would tell my sims to travel and I could select a lot to go to but then get stuck on the loading screen again. I was confused why all of a sudden it started happening after completing all the steps you gave and it actually working the whole day previously. I hadn't added or taken away any mods or anything between the two gaming days but the second day it didn't work.
So I tried your process again, step by step and made sure I did everything perfectly. Except when I did it the second time, all my save files were gone. I transferred EVERYTHING back into the new Sims 4 folder like I had done the first time round but none of my households, lots, save files or anything was there. However, the game was functioning as it should - no trouble when travelling - so, I just decided to start again. So after spending hours trying to get back up to speed with at least two of my households, and the game continuing to work properly, I thought perhaps I had resolved the issue, but I went to travel with one of my sims today the same thing happened - I got the loading screen. I don't know why this keeps happening because I've tried every conceivable method I've found online including yours but now I'm just annoyed.