I've sped up some footage to 10000% to create a Timelapse, when I press render and replace, I get the error "Clip could not be transcoded because it is offline". I've used three different search engines to research this error and nobody else seems to have it.
I have had the same issue since PPro 14, but only for .mogrts on the timeline. Preferences reset many times to no avail.
Happens to me all the time. It's so frustrating. Been dealing with it for years. Randomly it works randomly it doesnt.