After upgrading to 19.5.1, this issue still persists. I am rendering 175 frames into a video and the Initializing Video Export progress bar gets about 80% across and stalls. The program is unresponsive after that.
The primary cause of this issue has been addressed in the newest release of Photoshop, which is now available for download. Please open your Creative Cloud app, upgrade Photoshop and try your video render again. We would appreciate your feedback.