How to fix it?

Actually, the HD Graphics 4600 is now no longer supported at all by Adobe for Premiere Pro because Intel itself had placed driver support for all 4th- and 5th-Generation CPUs (your CPU is only a 4th-Generation CPU) into legacy status back in 2018. This means after 2018, there were (and will be) no more compatibility fixes at all whatsoever for these older CPUs, while only critical security patches will be made for these CPUs at least until later this year.

And forget about updating the Intel driver to the version that's suggested by Adobe: It is completely incompatible with your CPU. In fact, it is compatible only with the 6th-Generation and newer CPUs. Plus, Adobe officially requires a 6th-Generation or newer CPU in order to run Premiere Pro 2020 or 2019 properly.

The only fix for this, unfortunately, is to completely disable the Intel graphics in your computer's BIOS. This will also disable hardware decoding and encoding for H.264, so you'll now be permanently stuck with software decoding and encoding.

Randall

Do what is says: update intel driver.