Problem with XMP file and empty export file

Hi,

wanted to go back to using premiere pro and immediately unpleasant surprise. Please help.

I am getting an error when trying to export my project:

When I disable metadata I get the message video exported successfully but the file is still empty/broken.

1. I tried different export configurations.

2. I have disabled XMP save options in preferences

3. I was clearing the cache

This happens even when trying to export a simple project.

Anyone encountered this? A lot of information on the web, but nothing helped so far...

I'm using windows 11, could that make a difference?