Thanks everyone, I already tried opening in Handbrake and converting to MP4. Premiere Elements will play ball with it now and audio converted along with the video so I'm good. For any that might be wondering about the details, the file looks like this in mediainfo now.
Complete name : C:\Users\bkexp\OneDrive\Desktop\Clip 02 encoded to MP4.mp4
Format : MPEG-4
Format profile : Base Media / Version 2
Codec ID : mp42 (isom/iso2/avc1/mp41)
File size : 27.1 MiB
Duration : 27 s 648 ms
Overall bit rate mode : Variable
Overall bit rate : 8 222 kb/s
Frame rate : 29.970 FPS
Encoded date : 2023-11-24 21:58:03 UTC
Tagged date : 2023-11-24 21:58:03 UTC
Writing application : HandBrake 1.0.7 2017040900
Video
ID : 1
Format : AVC
Format/Info : Advanced Video Codec
Format profile : Main@L4
Format settings : CABAC / 4 Ref Frames
Format settings, CABAC : Yes
Format settings, Reference frames : 4 frames
Codec ID : avc1
Codec ID/Info : Advanced Video Coding
Duration : 27 s 628 ms
Bit rate : 8 062 kb/s
Width : 720 pixels
Height : 480 pixels
Display aspect ratio : 4:3
Frame rate mode : Constant
Frame rate : 29.970 (30000/1001) FPS
Standard : NTSC
Color space : YUV
Chroma subsampling : 4:2:0
Bit depth : 8 bits
Scan type : Progressive
Bits/(Pixel*Frame) : 0.778
Stream size : 26.6 MiB (98%)
Writing library : x264 core 148 r2708 86b7198
Encoding settings : cabac=1 / ref=2 / deblock=1:0:0 / analyse=0x1:0x111 / me=hex / subme=6 / psy=1 / psy_rd=1.00:0.00 / mixed_ref=1 / me_range=16 / chroma_me=1 / trellis=1 / 8x8dct=0 / cqm=0 / deadzone=21,11 / fast_pskip=1 / chroma_qp_offset=-2 / threads=12 / lookahead_threads=2 / sliced_threads=0 / nr=0 / decimate=1 / interlaced=0 / bluray_compat=0 / constrained_intra=0 / bframes=3 / b_pyramid=2 / b_adapt=1 / b_bias=0 / direct=1 / weightb=1 / open_gop=0 / weightp=1 / keyint=300 / keyint_min=30 / scenecut=40 / intra_refresh=0 / rc_lookahead=30 / rc=crf / mbtree=1 / crf=15.0 / qcomp=0.60 / qpmin=0 / qpmax=69 / qpstep=4 / vbv_maxrate=20000 / vbv_bufsize=25000 / crf_max=0.0 / nal_hrd=none / filler=0 / ip_ratio=1.40 / aq=1:1.00
Encoded date : 2023-11-24 21:58:03 UTC
Tagged date : 2023-11-24 21:58:03 UTC
Color range : Limited
Color primaries : BT.601 NTSC
Transfer characteristics : BT.709
Matrix coefficients : BT.601
Codec configuration box : avcC
Audio
ID : 2
Format : AAC LC
Format/Info : Advanced Audio Codec Low Complexity
Codec ID : mp4a-40-2
Duration : 27 s 648 ms
Bit rate mode : Variable
Bit rate : 160 kb/s
Channel(s) : 2 channels
Channel layout : L R
Sampling rate : 32.0 kHz
Frame rate : 31.250 FPS (1024 SPF)
Compression mode : Lossy
Stream size : 541 KiB (2%)
Title : Stereo / Stereo
Default : Yes
Alternate group : 1
Encoded date : 2023-11-24 21:58:03 UTC
Tagged date : 2023-11-24 21:58:03 UTC
Complete name : C:\Users\bkexp\OneDrive\Desktop\Clip 02 encoded to MP4.mp4
Format : MPEG-4
Format profile : Base Media / Version 2
Codec ID : mp42 (isom/iso2/avc1/mp41)
File size : 27.1 MiB
Duration : 27 s 648 ms
Overall bit rate mode : Variable
Overall bit rate : 8 222 kb/s
Frame rate : 29.970 FPS
Encoded date : 2023-11-24 21:58:03 UTC
Tagged date : 2023-11-24 21:58:03 UTC
Writing application : HandBrake 1.0.7 2017040900
Video
ID : 1
Format : AVC
Format/Info : Advanced Video Codec
Format profile : Main@L4
Format settings : CABAC / 4 Ref Frames
Format settings, CABAC : Yes
Format settings, Reference frames : 4 frames
Codec ID : avc1
Codec ID/Info : Advanced Video Coding
Duration : 27 s 628 ms
Bit rate : 8 062 kb/s
Width : 720 pixels
Height : 480 pixels
Display aspect ratio : 4:3
Frame rate mode : Constant
Frame rate : 29.970 (30000/1001) FPS
Standard : NTSC
Color space : YUV
Chroma subsampling : 4:2:0
Bit depth : 8 bits
Scan type : Progressive
Bits/(Pixel*Frame) : 0.778
Stream size : 26.6 MiB (98%)
Writing library : x264 core 148 r2708 86b7198
Encoding settings : cabac=1 / ref=2 / deblock=1:0:0 / analyse=0x1:0x111 / me=hex / subme=6 / psy=1 / psy_rd=1.00:0.00 / mixed_ref=1 / me_range=16 / chroma_me=1 / trellis=1 / 8x8dct=0 / cqm=0 / deadzone=21,11 / fast_pskip=1 / chroma_qp_offset=-2 / threads=12 / lookahead_threads=2 / sliced_threads=0 / nr=0 / decimate=1 / interlaced=0 / bluray_compat=0 / constrained_intra=0 / bframes=3 / b_pyramid=2 / b_adapt=1 / b_bias=0 / direct=1 / weightb=1 / open_gop=0 / weightp=1 / keyint=300 / keyint_min=30 / scenecut=40 / intra_refresh=0 / rc_lookahead=30 / rc=crf / mbtree=1 / crf=15.0 / qcomp=0.60 / qpmin=0 / qpmax=69 / qpstep=4 / vbv_maxrate=20000 / vbv_bufsize=25000 / crf_max=0.0 / nal_hrd=none / filler=0 / ip_ratio=1.40 / aq=1:1.00
Encoded date : 2023-11-24 21:58:03 UTC
Tagged date : 2023-11-24 21:58:03 UTC
Color range : Limited
Color primaries : BT.601 NTSC
Transfer characteristics : BT.709
Matrix coefficients : BT.601
Codec configuration box : avcC
Audio
ID : 2
Format : AAC LC
Format/Info : Advanced Audio Codec Low Complexity
Codec ID : mp4a-40-2
Duration : 27 s 648 ms
Bit rate mode : Variable
Bit rate : 160 kb/s
Channel(s) : 2 channels
Channel layout : L R
Sampling rate : 32.0 kHz
Frame rate : 31.250 FPS (1024 SPF)
Compression mode : Lossy
Stream size : 541 KiB (2%)
Title : Stereo / Stereo
Default : Yes
Alternate group : 1
Encoded date : 2023-11-24 21:58:03 UTC
Tagged date : 2023-11-24 21:58:03 UTC