I think we need to be on the same page regarding the audio. I used MediaInfo for the following stats:
The original clip is
AAC LC audio with an audio bit rate of
192kb/s, while both of your produced clips are
AAC LC but at
384kb/s. I'm not clear why the title of the 3rd clip includes "328 kbps," but either way it seems like that up-conversion from 192kb/s is where the problem comes in.
For completeness, the original video is
AVC 3840x2160 29.97fps with a video bit rate of
80Mb/s, while your first clip is
AVC 1920x1080 119.88fps @ 65.2Mb/s and the 3rd clip is
1920x1080 30.00fps @ 65.5Mb/s.
I don't have PD16, but I used the Profile Analyzer in PD17 to create a matching profile for your clip and have put the profile and the produced clip in this OneDrive
folder.
The clip there is
AVC 3840x2160 29.97fps @ 83.1Mb/s and the audio is
AAC LC 192kb/s just like the original clip. I produced using my nVidia GPU but SVRT is also available which means no rendering is needed.
If you're happy with that clip, you can add the custom profile to your system. To do that you'll need to open up your copy of Profile.ini with PD closed. I believe it's located in the
C:\Users\[user name]\AppData\Roaming\CyberLink\PowerDirector\16.0\UserConfigure folder.
Copy the contents of the OneDrive .ini file and paste them to the end of your Profile.ini file and save it. When you open up your project again in PD, you'll see the new profile on the AVC MP4 tab under the Custom drop-down menu.