To resolve this issue, follow these steps provided by the Corel/Pinnacle Knowledge Base : Standard Fix for Error 1011

Avoid saving/loading from external USB drives, network locations, or SD cards. Use C:\Users\YourName\Videos\ instead.

Pinnacle Studio relies on temporary render files to preview effects smoothly. If these files become corrupted, the software crashes.

Now go fix that error and finish your video.

Disable GPU acceleration

How to Fix Error Code 1011 in Pinnacle Studio: A Complete Troubleshooting Guide