AVG software causing errors

"Adobe Premiere Pro could not find any capable video play modules” and a faulty module in Event Viewer as “DVAUI.dll”.

Premiere Pro splash screen hangs on “ExporterQuickTime.PRM/ImporterQuickTime.PRM”

Adobe Media Encoder shows the error, "Incompatible Video Codec Found error with QuickTime."

Update AVG antivirus software.

See AVG Support for more information.