Thank you, I've read about this on various websites and I know that Nvidia version 581.80 works, but I find it unfortunate that Team Vegas isn't doing anything to fix this problem!

Please see this forum post about NVENC compatibility having been removed by NVIDIA with the release of the 591.44 driver: https://www.vegascreativesoftware.info/us/forum/nvenc-nv-encoder-problem-with-new-nvidia-drivers-vp22--150573/. There are other posts about the same issue as well.

As noted in that post, the current options are to roll-back the NVIDIA driver to a version prior to 591.44 or to upgrade to Vegas Pro 23 which doesn't have the NVENC problem - or of course in Vegas Pro 22 (or earlier) use another render format that doesn't involve NVENC.

@L7CFox As you say you've read it on various websites, what have you read?

. I've read about problems with the recent Nvidia drivers on gaming sites, Reddit & the other Magix forum, therefore it's a Nvidia problem not a Vegas problem.

Yes @Gid, it's definitely an Nvidia issue, but when a problem like this affects paid software, the least someone on both sides could do is find a solution instead of passing the buck. This problem is affecting a lot of people and nobody's doing anything! I find it unacceptable that there isn't a temporary fix from the Vegas team, and instead they're suggesting we upgrade to Vegas Pro 23. I don't want to spend any more money to avoid this problem. Upgrading to version 23 is fine, but if the problem reappears later in version 23, that's just unacceptable, and I don't want that!

@L7CFox Take it easy, VP 23 is built with the latest NVIDIA SDK so it and later versions won't be a problem.

There's no way VEGAS is going to reopen development of versions 15-21. The only one that possible is 22 because it's been on sale as of late, but even that isn't likely. If you want to use NV Encoding stick to 580.xx drivers, use NVENC through Voukoder or HOS or upgrade to 23.

Okay, but I'm sorry, I don't approve of this approach at all. They're telling us to upgrade to v23, or I'll have to pay €129.99 to avoid a simple problem that nobody wants to fix! And if this happens again in v23, what will they tell us?! I'm seriously considering quitting Vegas and switching to another editing system because I'm really disappointed!

Upgrading to version 23 is fine, but if the problem reappears later in version 23, that's just unacceptable, and I don't want that!

On that basis, you'd never upgrade to a new version of any software because NVIDIA, Windows and so on might in the future make a change that is problematic for that (any) software. Let's look at a recent example. During Vegas Pro 22's lifetime, Windows removed support for AC-3 with a clean install of 24H2 and Vegas reacted by including inbuilt AC-3 support in the last two VP22 builds - 248 and 250.

As pointed out earlier, NVIDIA's cessation of NVENC support is not just limited to affecting Vegas Pro - do a Google search to find out for yourself. 591.44 looks like it even had a bad effect on Microsoft Fight Simulator.

@L7CFox NVIDIA opted to end support for an older method of encoding. VP 23 by definition doesn't use that method so it can't happen again with 23. If you used another editing system you'd need to pay a subscription or upgrade price to use the current version. I encourage you to join the number of users complaining to NVIDIA via their forum and support channels.
If you want to use NV Encoding stick to 580.xx drivers, use NVENC through Voukoder Pro (69 EUR) or HOS ($59) or upgrade to 23.