Premier Pro Beta thinks Media Encoder isn't installed

Hi there. Trying to generate proxies for full res 6K media just like I always do, but the Beta thinks Media Encoder isn't installed. I've got both the Beta version and CC25 installed. 

Steps to reproduce:
    1. ...Right click on full res media, select proxy>create proxies
 
Result: A dialogue box pops up saying Media Encoder isn't installed.
Expected: Media encoder would open and start creating proxies in the background.
 
System info
    Application: Premiere Pro (Beta) v25.1.0.63
    OS: macOS v14.6.1, RAM: 32.00 GB GB, CPUs (logical): 10