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Am I doing something wrong or is this rather limited? Tested with a RTX 2080 Ti and a 6 second 1080p video clip the app just closes. Scaling the video down to 720p makes it work again. What kind of hardware would you need to work on 1080p videos with a duration of several minutes?

If it can handle a single frame, it can handle any length.  There still some improvements I can do to improve the memory usage.