Since the timecode effect is using Arial font, this font needs to be installed and active on your Mac. By default, this font is installed on Mac systems. I wonder if this font is accidentally disabled or removed. Could you launch an app called "Font Book" under your Mac application folder and see if Arial is indeed installed and active? There are a few kind of Arial font such as Arial Black, Arial Hebrew, Arial Narrow and so on. What you need is the regular "Arial". Do you see it?
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