Green Screen Blurry Output with H.264

I am exporting from Premiere Pro to AME. Timeline video is in 4K with MOGRTs and PNGs. Playback is fine in Pr. Even the preview is fine when rendering in AME. Codec is H.264 with a LUT. After the render is complete I try to play it in multiple players including VLC and the video is greyed out. I even tried removing all LUTs, PNGs, and MOGRTs from the render and still the same problem. 

However, when I render in H.265 the output is exactly what is expected. 

Does anyone know why this might be happening? Thanks. 

OS: Windows 11. 

AME/Premiere: 24.2.1 (Build 2)

All Video shot with GoPro 9 and DJI Mini 3 Pro. (Used with no issues multiple times before.)