I downloaded today's nighly build of VLC 4 just for testing and the installer installed it but when i launched i got this error:
Altough VLC 3.0.7 (not released to the public from writing of this thread) installs and works without no problems!
You can test these nighly builds on VideoLAN's official website https://nightlies.videolan.org/
Even trying out the earliest VLC 4 beta gives the error for me
I hope i'm not breaking MSFN rules