I am also having this issue with my 2019 iMac. However, when I run the same project on my M1 iMac, it works flawlessly. I do all my projects on external drives so that I can take things home when necessary and routinely go between different macs. They are all on the same OS, Monterey12.1, Compressor 4.6, and FCP 10.6.1. I'm noticing that all the Macs on here are intel macs, so possibly this is an issue with coding for intel processors??? Can anyone else confirm?
I'm always doing batch work and am currently in the process of putting some up to date info on a few hundred videos for a subscription service on Vimeo and this is a big set back for me. I often compress 5-15 videos at a time without issue. I did notice on the intel iMac that when I dropped a batch in and started it, one video would actually process while the others failed. When I put the rest back in and ran it again, one video would process and the others would fail.