I've had this issue for many versions of Premiere. Was hoping it would resolve in latest, running v24.3.0 (Build 29) on Windows 10 Pro, AMD Ryzen 9 5900x 12-Core.
The issue is EVERY time I choose to Replace Footage, it defaults to opening an old folder. Even after navigating to the correct folder, I will choose another file to replace and opens to that same old folder.
There's nothing in Project Settings that would allow me to assign a path for replacing footage, but you would think that it would default to the same location of the original file being replaced. I'm simply updating multiple versions of After Effects rendered files. (I know, I know... I could use Dynamic Link)
Any suggestions?