Welcome to the Lightroom Classic community. I'll need more info to help you figure this out.
What version of Lightroom Classic are you working on? Do you use the watermark preset in the export operation? Could you please share a screenshot of the export settings you are using? Have you tried any troubleshooting steps?
You are working with Intel HD 4000 graphics running v10.18.10.4358 drivers released in 2016. Please update the GPU driver for your GPU. Check the Intel Driver assistant for auto-detect & update drivers: https://www.intel.com/content/www/us/en/support/detect.html