This appears to be a bug that we have just found and are reporting on now. Can you try a different playback quality besides the default of 1/2. Try Full or 1/4? What happens then? May we have more computer info, as well?
Thanks for replying Kevin! Playback at 1/2 anecdotally appears better than 1/4 or 1/8th. Full is about the same, IMO.
Output from System Info below - summary: i7 9700k, NVIDIA RTX 3090 FE, 32GB RAM, Windows 10 21H1. Premiere 2022 (v22.0.0, Build 169). I can also confirm that Preferences > Media has "H264/HEVC accelerated decoding" checked with a sub check box of "Nvidia" also checked.
OS Name Microsoft Windows 10 Pro Version 10.0.19043 Build 19043 Other OS Description Not Available OS Manufacturer Microsoft Corporation System Name GENERATOR System Manufacturer Gigabyte Technology Co., Ltd. System Model Z390 I AORUS PRO WIFI System Type x64-based PC System SKU Default string Processor Intel(R) Core(TM) i7-9700K CPU @ 3.60GHz, 3600 Mhz, 8 Core(s), 8 Logical Processor(s) BIOS Version/Date American Megatrends Inc. F7, 10/15/2019 SMBIOS Version 3.1 Embedded Controller Version 255.255 BIOS Mode UEFI BaseBoard Manufacturer Gigabyte Technology Co., Ltd. BaseBoard Product Z390 I AORUS PRO WIFI-CF
I had the same problem. Premiere Pro 2022 was unable to play 4K videos at any playback resolution. Then I reinstalled PP2021 and strangely, the playback problem in PP2022 was solved. I guess adobe forgot to integrate Nvidia GPUs in version 2022 😅