Can't edit mov file while cataloged in Photos

I have a video file I shot on my iPhone and imported into Apple Photos.

I right clicked on that file and selected "Edit With"> "QuickTime Player (10.4)"

The file opens in QuickTime Player as expected.

I make my edits

I attempt to save and get an error every time.

I made a video screenshot of the error but I can't seem to attach it here, the option to "insert video" is greyed out.

The error message is: "Cannot Open This media format is not supported", then "Cannot Open"

Can anyone reproduce this?