The 3ds Max team keep updating the USD import/export independently from the main 3dsMax branch. Its something you can download for free to get a better interoperability with 3ds Max.
The new USD 0.5 adds a lot of core functionality, Supports for 3ds Max Morphers and skinning to the equivalent USD blendshapes, and for first time MaterialX support in 3dsmax. This will open the doors to a way better communication with other apps and renderers available. Theres as well a lot of improvements on speed performance, and improvements on the SDK to allow for third party developers to add or change upon the build in features.
To check the new features check the changelog in autodesk site.
Changsoo Eun created a complete explanation of whats possible now with MaterialX.
Also a lot of short videos from Changsoo, showcasing the new USD and MaterialX functionality.
