The "Render Video..." function no longer works after upgrading to Catalina on my 2019 Macbook Pro. More specifically, using the Render Video... function results in a spinning "busy" cursor and causes Photoshop to lock up. The only way I can get out of it is to Force Quit Photoshop. I've never had any trouble with this function until the Catalina update.
So far I have reinstalled both Photoshop and Media Encoder, and neither has fixed the problem.