Use this method to fix the OBS failed to open NVENC codec issue if your OBS was unable to open the NVENC codec. When utilizing OBS Studio, OBS failed to launch, indicating that your PC's software is unable to decode the files from the storage. Fortunately, they are simple to fix, as we shall show you below.
1. Update the Graphics Drivers
2. Check your GPU Compatibility
3. Adjust and Reset OBS Settings
4. Reinstall OBS again on your system.
5. Lower your Resolution
6. Enable the QuickSync option.
Open your OBS Studio.
Click on File and go to Settings.
Move to the Output section.
Enable QuickSync and save your changes.