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To correct the aspect ratio of your video:
1. Select the clip in the Project panel.
2. Go to Clip > Modify > Interpret Footage.
3. Under Pixel Aspect Ratio, choose Conform to and select the correct aspect ratio for your clip.
For more detailed information, you can refer to this guide: Correct Aspect Ratios in Premiere Pro.
Cheers,
Paul
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Check the settings of the Preview codec in the sequence settings.