Warp Stabilize and Camera Track not working

I just bought a new Mac Studio, M2. Running After Effects 2023 with Rosetta and After Effects 2024 normally. 

Warp Stabilize and Camera Tracking aren't working in either 2023 or 2024. Warp Stabilize will work on a piece of footage in Premiere but After Effects can't stabilize that same piece of footage (ie., it gets through the process then I get orange banner/red banner.) 

I've tested pieces of footage that were stabilized fine in older versions of Pr/Ae. I've even tested pieces of footage that have already been pre-stabilized as well as a few with virtually no motion in them. I've reduced Smoothness to 1% on a piece of footage 5 frames long; no dice. 

I've tried footage from 2 different Sony codecs as well as iphone footage. 

The one thing I got to work was exporting an .mp4 from Premiere. Warp Stabilize finished its process but the result had no stabilization. Camera Tracker gave me the red banner on that. 

Is there a box I don't have ticked or something?