Used captions normally: transcribed audio (from track 2), edited the transcription, created captions (single-line, 35 character max), and edited the captions (moved them, added a background, made them bold, changed colors, etc.). Tried playing the track and PP 2023 immediately threw up a "compiling movie" error, then crashed a couple minutes later.
Tried re-opening and got the "send report to Adobe" error. Tried opening the file in PP 2022 and it crashed almost immediately, and I got the same "send report to Adobe" error.
Running MaxOS Monterey V12.1 on a 64GB 2021 Macbook Pro with the M1 Max chip.
This feels like classic Adobe at this point tbh. Starting to feel like a crash test dummy.