Create proxy menu grayed out (22.3.0 build 86)

[Andy Edwards]

Import ProRes HQ media with embedded 708 captions into Premiere beta 22.3.0 build 86. Right click on media in project panel, scroll down to proxy menu, it is grayed out. Captions are also not generated when ProRes HQ media is first imported into Premiere even though pref is set to import captions.