You can now test a beta version of the Substance Engine 5+ in Max. Learn about it here. (https://forum.allegorithmic.com/index.php/topic,14223.0.html)
Substance2 Plugin for 3ds Max was released last month. It's a pretty cool update. However, there are currently some significant bugs. TO stay up-to-date on this topic, see issues or report issues, see this thread (https://forum.allegorithmic.com/index.php/topic,23421.0.html).
I did not see the news about Substance2 Plugin v 2.1.1 . That release fixed many of the bugs that kept me from using it. I have tested the update and it seems to work without production-killing bugs. I'd now install the latest Substance2 plugin if you are using Max 2018+. In those cases, you can also tell any Wall Worm function that utilizes substance to use the newer plugin by turning on the Substance2 setting in the Materials tab of the global setting. Note I suggest only using that setting if you have Substance2 2.1.1+.