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I used MediaInfo and found the original clip (test.mp4) you shared is encoded in 10K fps (it is in dynamic fps and the maximum frame rate is 10K).
As what you said "New phone, new problem", did your new phone really record the 4k 60p video properly?
If a video contains 10k frames a second and the resolution is in 4K, I'm not surprised it will be laggy and uneditable in a video editor. Even though it can be edited in other video editors, it cannot explain and proof that your source video file is a fine one.
Have you ever contacted your phone vendor to clarify this technical issue?
It does not encode video properly with correct video metadata.
Thanks for looking into it, Yeah its really odd. But the video stays at 59-60fps when playing never goes up lol so thats weird.
Yeah deffiantly a weird encoding issue with the phone, but PowerDirector is the only video editor that doesnt support it correctly despite the weirdness of the file.
Phone venders will never help with this, they'll blame the computer, person, user error or want to RMA the phone lol. When its clearly a software issue on there side. Its the OnePlus 8.
Every video clip that comes from this phone, I have to render the clip unedited first in powerdirector, and then edit the rendered clip as a workaround.