rerun119 Yes, you'll need AV1 Codec. It's free and available on the Microsoft Store. DON'T get it from any other sources. Save yourself the troubles.
You'll also need to have at least Nvidia 30 series GPUs or AMD equivalents. As these are the first GPUs to introduce AV1 hardware decoders. Otherwise, you can't play AV1 Videos smoothly at all.
Best Regards.