SOLVED: Playback failed due to a fatal player error/Cannot play newly added media 10.9.2

[ajoba]

Since updating to 10.9.2 im unable to play any media, some media plays through the Jellyfin Media Player app, but won't play newly added media at all. 
On the previous version 10.8.x it worked fine.

System
Windows 11

Jellyfin version: 10.9.2 using windows installer.
ffmpeg version found in C:\Program Files\Jellyfin\Server: 6.01-Jellyfin
ffprobe version  C:\Program Files\Jellyfin\Server: 6.01-Jellyfin


What I've tried so far:
Uninstalling 10.9.2 completely and reinstalling an older version, it then works as it should. I've also reinstalled to 10.9.2.
Added C:\Program Files\Jellyfin\Server to system path.

From what I can see in the logs it seems that ffmpeg is the culprit "System.ComponentModel.Win32Exception (5): An error occurred trying to start process 'C:\ffmpeg\bin' with working directory 'C:\Program Files\Jellyfin\Server'. Access is denied." 
I also noticed that the "ffmpeg path" is empty on 10.92, but was filled with "ffmpeg" on previous versions.

I've also attached a full log.

Hopefully someone can lead me in the right direction so that I can solve this