I tried to enable In-Game Replay, and it would not enable prompting me that the AV1 codec was not available. On the web there were several users having the same problem. I found the solution, for my specific situation, to be installing the AV1 video extension from the Microsoft store.
I hope this helps.
Ryzen 7 7800X3D, ASUS ROG STRIX B650E-F GAMING WIFI, G.SKILL TRIDENT Z NEO 2x16GB DDR5 DRAM 6000MT/s CL30, AMD Radeon RX 7900 XTX, LIAN LI EDGE 1300, Corsair MP600 PRO NH 4TB