ID 550027 - Unable to export Express Quicktime on macOS with M1/M2 chips

Problem summary
Unable to export Express Quicktime on macOS with M1/M2 chips.
 
Customer reported version
Modo 16.1v7
 
Customer reported platform
macOS 12 Monterey
 
Steps to reproduce
1) Download the attached file and open it in Modo.

2) Navigate to Render > Render Animation...

3) Under the Save As option, select Movie and press the OK button.
 
4) Name the file and select the export location, then set the export file type to Express Quicktime and Save.
 
5) Navigate to the exported file and view the information and see the size is 0KB.
 
Expected behavior
Modo should be able to export to Express Quicktime on macOS that have an M1/M2 chip.
 
Actual behavior
Modo is not able to export to Express Quicktime on macOS that have an M1/M2 chip.
 
Workaround
Unknown.
 
Reproduced by Support in:
Modo 16.1v7 - macOS 13.4 Ventura
Modo 15.0v1 - macOS 13.4 Ventura
 
Earliest version tested
Modo 15.0v1 - This issue appears to be in all tested versions of the product.