Contacting ASUS did not help much, except they pointed me to a hardware compatibility list document(here).
In that document on page 11, Section 3.3.2 ‘Other GraphicCards’, they list two PCIe x1 GPUs
HIS H545H1GD1
KINGFUNG KF210-512MB-DDRI
However it is not obvious if they tested it by placing it in the x1 slot or the x16 slot.
I did note this thread https://forum.level1techs.com/t/153101, which talks about certain power issues (but I am not sure if they are talking about the riser or the slot in the mobo)
Does this work in the graphics card cpu slots? If you boot with a different graphics card, does the card show up as a device?
I couldn’t get many older pcie cards to even detect in Ryzen, at least not without a bridge chip in a mining riser to sort of help things along. My Intel z370 was even worse in this respect. Never used a g550 though.