Can't open iMovie library on new Mac mini M2
I recently upgraded to a mac mini M2 from an iMac 2017, and never had an issue opening an imovielibrary file until now. I had moved the library file to my external hard drive and when I launched iMovie on the new mac, I received an error that the library could not opened because "one or more of the libraries were created with a newer version of iMovie and the library would be ignored." Is this something with the new M2 chip system, a known issue, or possibly some type of corruped file issue?
Mac mini (M2, 2023)