mov files created in screenshot toolbar app will not play in Quicktime player

This started happening recently on my 2022 Mac Studio. I regularly use the screenshot toolbar app to capture video and audio of what's happening on my desktop. Screenshot creates a .mov which I normally don't have any issues playing. Now, for some reason, when I open the screenshot created .mov file, it will open but will not play, it's frozen right at the start. Interestingly I can still use my mac's "preview" app and the video will play without issue. Also, it will play the same .mov’s video and audio in VLC.

I am suspecting this a codec issue. The .mov files created by screenshot are using H.264 for video compression and MPEG-4 AAC, 44100 Hz for the audio which both seem quite normal to me.