[FFMPEG VAAPI encoder: 'streaming_h264'] Failed to open VAAPI codec: Input/output error

[RAMChYLD]

Full log: https://obsproject.com/logs/5lIfre0x0C2bOo9k
Started getting that error yesterday after a daily update. I don't understand what to make of it since the error is really vague and lacking details.
I'm using the Oibaf PPA to enable advanced support including VAAPI on the GPU.

vanifo:

libva info: VA-API version 1.7.0
libva info: Trying to open /usr/lib/x86_64-linux-gnu/dri/radeonsi_drv_video.so
libva info: Found init function __vaDriverInit_1_7
libva info: va_openDriver() returns 0
vainfo: VA-API version: 1.7 (libva 2.6.0)
vainfo: Driver version: Mesa Gallium driver 21.1.0-devel for AMD Radeon RX 5600 XT (NAVI10, DRM 3.38.0, 5.8.0-41-lowlatency, LLVM 11.0.1)
vainfo: Supported profile and entrypoints
      VAProfileMPEG2Simple            :    VAEntrypointVLD
      VAProfileMPEG2Main              :    VAEntrypointVLD
      VAProfileVC1Simple              :    VAEntrypointVLD
      VAProfileVC1Main                :    VAEntrypointVLD
      VAProfileVC1Advanced            :    VAEntrypointVLD
      VAProfileH264ConstrainedBaseline:    VAEntrypointVLD
      VAProfileH264ConstrainedBaseline:    VAEntrypointEncSlice
      VAProfileH264Main               :    VAEntrypointVLD
      VAProfileH264Main               :    VAEntrypointEncSlice
      VAProfileH264High               :    VAEntrypointVLD
      VAProfileH264High               :    VAEntrypointEncSlice
      VAProfileHEVCMain               :    VAEntrypointVLD
      VAProfileHEVCMain               :    VAEntrypointEncSlice
      VAProfileHEVCMain10             :    VAEntrypointVLD
      VAProfileHEVCMain10             :    VAEntrypointEncSlice
      VAProfileJPEGBaseline           :    VAEntrypointVLD
      VAProfileVP9Profile0            :    VAEntrypointVLD
      VAProfileVP9Profile2            :    VAEntrypointVLD
      VAProfileNone                   :    VAEntrypointVideoProc

I cannot make heads or tails as to what went wrong.