I often create proxies in 720p Prores. Until version 22.2, footage recorded in 4K 120fps transcoded and worked like a charm, no problems. After the update, proxies seem to malfunction, as the playback on double speed and then freeze frame for the rest of the clip. Same project, different version of Premiere and this is happening. This problem occured a year ago, so I probably know the workaround, I just wonder why it is happening again, if it was working properly for such a long time?
Sorry for this problem. We have improved this workflow in the latest beta build. Can you please try the latest beta build version 184.108.40.206(or higher) from the creative cloud and let us know how it goes there?
You can download the latest Premiere Pro Beta build from Creative Cloud --> Beta apps --> Premiere Pro (Beta)