AVC-I based Capture Presets require Rosetta 2 to be installed on Apple Silicon systems, such as Mac Minis (M1, M2), 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.
file /Library/Video/Professional\ Video\ Workflow\ Plug-Ins/AppleAVCIntraEncoder.bundle/Contents/MacOS/AppleAVCIntraEncoder /Library/Video/Professional Video Workflow Plug-Ins/AppleAVCIntraEncoder.bundle/Contents/MacOS/AppleAVCIntraEncoder: Mach-O 64-bit bundle x86_64
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:
sudo softwareupdate --install-rosetta