I've reverted to AME version 1.4.3.2 and it's back to normal. I didn't test all previous AME builds. Chose 1.4.3.2 was more of an educated guess. So it's not scientific by any means - higher version might steel be free of this bug. Inability to update is quite annoying though.
Issue is back after updating everything. It's so annoying, I have to render directly from AE and then convert it via AME. Can anyone from Adobe respond, please?