Premiere to AE Dynamic link stopped working after update (creates empty comp)

Hi,

I have just updated AE and Premiere to the latest version and the dynamic link does not work anymore, when i click on the clip in Premiere and choose "replace with AE composition" it launches AE and creates a composition, however this composition is empty.

When I try to import the newly saved Premiere file into AE it says following:

The file is not corrupt, it says it about any Premiere file, created in the latest version.

What is the issue and how do I fix it?

These are the latest versions I have unfortunately just upgraded to:

Thank you!