Assuming this is Movie Edit Pro 2022, then this may be the same issue as is seen with the latest update to Photostory 2022, see the response from Magix here.
Thank you for you quick reply. I have noticed others are experiencing the same issue as I am. I managed to figure out how to create a support ticket on the issue and sent it off. From the thread it appears there may be a patch coming to correct this situation. Hopefully it will be coming out soon.