Media Encoder is not encoding when using the GPU

Hi!
I'm facing an issue with Media Encoder. When I try to encode any video from it, and I have the rendered set at (Mercury Playback Engine GPU Acceleration (OpenCL)) it doesn't encode anything, it just lags and doesn't start encoding.

 However, it works just fine when I have it set at (mercury playback engine software only)
Any idea what would cause this?

Note: I have ME up to date, and the GPU driver is also up to date.
My graphics card is Radeon RX 5500 XT.
My Processor is Rayzen 5 3600.


Thanks in advance.