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Solved. It was down to folder permissions set on my iMac that changed since the last OS update, thanks.

Mark, Thanks, I've downloaded your project. There were 2 missing files - one PNG and MP3 audio. I removed audio and added another PNG image on 25th slide. I created 2 MP4 video - 1920 x 1280 (3:2), 60p, Quality = 100. Disabled Motion Blur option - 284 MB With Motion Blur - 249 MB I guess that for some reason your large file still was created with Lossless compression option. Try to tick and untick this option. Also try to create a MP4 video with Motion Blur and with default 1920 x 1080 preset (not in the Custom mode).