For the last few days I've been trying to work on a video project that involves reversing bits of video and audio from time to time, but Vegas 15 has been giving me this same error with the one type of video where I get a pop-up reading "An error occured while creating a proxy file for a stream. Error 0xc00d002f (message missing)"

I am not sure why this is happening, nor how to fix it as the only other post I could find that was anywhere similar to my issue was for Vegas Pro 8. Surely Vegas still doesn't have issues with wmv files?