For anyone currently experiencing render failures after the latest NVIDIA driver update, there is a workaround. If you are on VEGAS Pro 22 or below, I highly recommend installing the standard version of Voukoder (and the corresponding connector) for the version of VEGAS you are using. Voukoder still remains fully compatible with the newest NVIDIA drivers. I tested it on both Vegas Pro 22/21 & It is often significantly faster than the built-in MainConcept renderers. This is currently the most reliable way to restore hardware-accelerated encoding without having to roll back your system drivers.

Until a permanent Fix by NVIDIA or Magix, this is the best solution.