AVC-I based Capture Presets require Rosetta 2 to be installed on Apple Silicon silicon systems, such as Mac Minis (M1, M2-M4), Mac Studios (M1, M2), or Mac Pro (M2). It seems like there is no “arm64” version of this specific codec as of this writing, and therefore Rosetta 2 has to be installed to get this working.
...
Quit the Just Control and the Just In Engine application and install a non-native ARM application such as VLC player. This step requires Rosetta 2 to be installed and therefore opens the Rosetta Download and Installation window. Follow the steps and finish the installation process. Then open Just Control and Just In Engine again. The AVC-I Capture Preset will now work as expected.
Alternatively, an experienced user could also use the following Terminal command to Install Rosetta 2 on an Apple silicon-based Mac:
...