Issue with Dynamic Link (not duplicate, posting per Adobe support request)

*** This is NOT a duplicate ***
*** Adobe case ADB-45636464-G4B3 ***

1. Background.
   I have some old clip files that I wanted to “revive”.
   When I am/was trying to add audio, I am getting “DynamicLink is not available”.
   When I am/was trying to generate video “Media Encoder” is grayed out.
   
   It happened once.
   
   Then after probably (don’t remember entire chain of events) I un-installed Photoshop beta and Photoshop was updated, the issues has been resolved on it is own.
   
   I put my clips aside for a couple of weeks, but when I get back to them now, I am getting the same message. I updated Photoshop - it did not resolve the issue.
    
2. What I know so far about the issue.
   
   All files that was mentioned before Trace database, dynamiclinkmanager etc moved to other directories. I renamed all of them plus Media Cached Files - it did not help.
   
   The issue is that if I open old clip that has audio OR trying to add audio to a new file, I can see in Task Manager that Dynamic Link Manager is trying to run, but get suspended.
   
   I found all executable
   amecommand.exe
   dynamiclinkmanager.exe
   dynamiclinkmediaserver.exe
   
   that is currently thoroughly hidden in the DynamicLinkMediaServer folder in Required, but they don’t run alone. I am getting an error message, “The application was unable to start correctly”.
   
   Except Photoshop, from all Adobe products I have only Camera Raw. And Bridge that stopped to work later.
   
   Three (!) months after I put an initial post, several updates, the issue still has not been resolved.
   
   Operating system is Windows 11 Pro