DYNAMIC LINK NOT WORKING AFTER UPDATE

Maybe I found the solution. After trying several solutions, what worked was resetting After Effects, Media Encoder and Premiere preferences, in that order.
I found this out after installing a new plugin in AE, and the dynamic link stopped working.
It just came back and has been working for a while with no problems after I did the steps above. Good luck to everyone.
PS - CC2021 on Catalina

I feel the same pain. The newest version of Pr and Ae don't seem to be able to to get dynamic link to work. I found one crappy solution of keeping Ae open when you add the files to Pr and keep open during the final render in Pr. This was not an issue in older version or Pr and AE. I'm going back to an older version until Adobe can get this right for their usere.They seem to be biting the hands that feed them.

Same problem here. Very, VERY annyoing to say the least!
Renaming that folder doesn't do any good here either 😕😕

I rolled back to PR 14.0.4 and AE v17.0.4 and the problem is "gone".

and vote here please so that Premiere Pro team will look into this:

https://adobe-video.uservoice.com/forums/911233-premiere-pro/suggestions/40386421-fix-premiere-pro-dynamic-link-with-after-effects-a

Also try the solution in the correct answer here:

https://community.adobe.com/t5/premiere-pro/dynamic-link-broken-with-premiere-cc2020-update/td-p/10738987?page=1

no one is blaming, this is a user to user forum and we are users like you trying to help.

please try and follow the correct answer in this thread:

https://community.adobe.com/t5/adobe-media-encoder/dynamic-link-components-not-installed/td-p/10725035?page=1

since you say you updated the 2020 suite, you should have the same version of both softwares,

but please make sure that you have the latest updates for both After Effects and Premiere Pro.

If so, you can try clearing the cache on both. in premiere, preferences - media cache - delete unused.

in after effects go to Edit - Purge - all memory and disk cache.

If clearing cache does not work, try to delete all render files related to that project in both as well.

If nothing of the above works, try to check if you have GPU acceleration enabled in both programs,

or switch both to software only renderer.

If none of the above works, try rolling back to a previously working version for dynamic linking

And guess what?? The Dynamic link to AE through Media Encoder doesn't work either! The programmers don't actually test ANYTHING before uploading an update.