How to fix OBS Studio Nvidia NVENC codec error

To resolve this OBS Studio error, simply update your graphics card drivers. I suggest downloading the Nvidia GeForce Experience program from their official website. Once installed, log in to the program and update your drivers, making sure to perform a clean installation. After installation, restart your computer and click "Optimize all games & apps."

This will fix following error messages:

Failed to open NVENC codec: Function not implemented
Please check your video drivers are up to date.

Your current video card driver does not support this NVENC version, please update your drivers.

Starting the output failed. Please check the log for details.
Note if you are using the NVENC or AMD encoders, make sure your video drivers are up to date.