Advertisers report that product videos uploaded to Google Merchant Center get stuck in a "preview processing" status. While stuck, the videos look static and do not play in product listings on Google Search and other surfaces. Reports say it hits YouTube links and self-hosted videos alike. Google has given no fix date.
This is a Google bug, not your feed. If your product videos stopped playing in Shopping results, you probably did nothing wrong, so don't rip up a working feed to chase it.
The risk is wasted effort. Teams see a broken video, re-upload, change hosting, and create a mess that outlives the bug. We would log it, keep the feed clean, and wait for Google to clear the queue.
It is still a good reminder that your main product image does the heavy lifting. If the video fails, the image has to sell on its own.