Video Error importing any video clip

When I try to import a video file to play in a VideoPlayer component, I get the following errors in the Console (open spoiler to view errors):

Spoiler

Code (plain):

1. WindowsVideoMedia error 0xc00d5212 while reading C:/Users/Jonas/OneDrive/Projects/Project1/Assets/Videos/output.mp4
2.  
3. Context: Setting media type for first video stream
4. Error details: No suitable transform was found to encode or decode the content.
5. Track types:
6.    Audio Track, type: U
7. UnityEngine.GUIUtility:ProcessEvent(Int32, IntPtr)
8.  

Code (plain):

1. Error while reading movie: C:/Users/Jonas/OneDrive/Projects/Project1/Assets/Videos/output.mp4
2. UnityEditorInternal.InternalEditorUtility:ProjectWindowDrag(HierarchyProperty, Boolean)
3. UnityEngine.GUIUtility:ProcessEvent(Int32, IntPtr)
4.  

Code (plain):

1. VideoClip import error for Assets/Videos/output.mp4
2. UnityEditorInternal.InternalEditorUtility:ProjectWindowDrag(HierarchyProperty, Boolean)
3. UnityEngine.GUIUtility:ProcessEvent(Int32, IntPtr)
4.  

Code (plain):

1. WindowsVideoMedia error 0xc00d5212 while reading C:/Users/Jonas/OneDrive/Projects/Project1/Assets/Videos/output.mp4
2.  
3. Context: Setting media type for first video stream
4. Error details: No suitable transform was found to encode or decode the content.
5. Track types:
6.    Audio Track, type:
7. UnityEngine.GUIUtility:ProcessEvent(Int32, IntPtr)
8.  

The video file is just an ordinary H.264/AAC MPEG-4 video file transcoded using ffmpeg. But I also tried the same format and H.264/AAC QuickTime MOV (both rendered from Blender) and AVI (JPEG) from Blender as well.

System Details
Unity 2018.4.12f1 (LTS) Personal
Build target: Android (Minimum API Level 25)
Windows 7 Home Premium 64 Bit (SP1)
Blender 2.80
ffmpeg version N-85588-g6108805