Editor is stuck on loading bar or freezes when playing 8K video using Video Player

How to reproduce:
1. Open the attached “EditorHanging.zip” project
2. Open the “SampleScene”
3. Enter Play Mode
4. Exit Play Mode
5. Enter Play Mode again
6. Observe the “Hold on” Loading bar

Expected result: Entering Play Mode works as intended regardless of the errors in the Console
Actual result: The "Hold on" loading bar persists indefinitely or the Editor freezes

Reproducible in: 2022.3.40f1, 2023.3.38f1, 6000.0.10f1

Reproduced on: Windows 11, macOS 14.5 (Intel)
Not reproduced on: Windows 10

Note: Sometimes, entering Play Mode multiple times is necessary to reproduce the issue. Reproduction is inconsistent and in certain cases only reproduces on specific devices