Adobe Premiere Pro low-level exception solved
Instagram reels, tik tok, shorts videos to premiere pro showing error. A low-level exception occurred Adobe Premiere Pro: Adobe (Player:76)
This problem is due to the Video Playback and Rendering Settings. A simple solution is provided below.
Goto Project Settings > Genera > Video Rendering and Playback > Mercury Playback Engine Software Only
Here is the replay from Adobe for fixing this issue.

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