C++ Application Video PlayBack Crashes when video changes codec

I am running this application, i don't have the source as it was passed down without the source. This application runs well with a fixed set of video ( with very old codec ) , now we wanted to change video however we cannot export video out with the same codec as the old videos. We are always running into error with the new videos:

System.Runtime.InteropServices.COMException (0x80040218): Exception from HRESULT: 0x80040218

I have installed multiple(K-Lite etc ) codecs and still do not work. I believe i have all available codecs that is installed. i am starting to wonder if its the codec really causing it.