Your resolution settings, as well as frame rates, are mismatched: your source footage is 720 x 480 29.97 fps, you drop it into 1280 x 720 23.976 fps sequence and is trying to utilise 3000 x 2000 29.97 fps AE composition. There are several ways to resolve your issue depending on what you want to achieve at the first place: from matching both PrPro sequence and AE composition resolution settings to your source footage to just scaling down AE composition inside PrPro sequence.
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