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That's just the common stuff that can be in there. But basically Vegas is saying whatever is in your file isn't a combination of stuff it can decode, and they're recommending you transcode your file to H.264 video (AVC) with AAC audio for maximum compatibility. Handbrake is probably the easiest tool to do this with. I recommend using the Constant Quality mode set to about 22. And make sure you use a constant frame rate that matches your source frame rate or, if your source is variable frame rate (which can be a source of many problems) to the frame rate nearest to what you are editing at.
Easiest way to install ffmpeg on windows is scoop: https://scoop.sh after you have installed scoop type: scoop install ffmpeg