Have report the bug to MPC, got the below feedback (to reset it via Options > Miscellaneous) and now working fine!
Make sure to reset the settings (Options > Miscellaneous) and try again.
If the issue remains:
show us the content of the "Play > Filters" menu and the MediaInfo analysis of the file (available from File > Properties).
and if possible, upload a small sample we can use to reproduce the issue.