Hi was there any resolution to this issue? I'm having a similar issue and it seems that Lumetri is the culprit.

'18 15" Inspiron
32Gb DDR4 RAM
Nvidia MX130
1.8 i7

I haven't had this happen with new versions...or since I upgraded my video card (I am "anonymous" below and have long ago upgraded everything else - using i7-8700, 32GB DDR4 but.I was still using a GTX 1050 Ti which I upgraded to a RTX-2070. Haven't had an encoding error since...knock on wood.

Has this been fixed? We are having same issue. NVIDIA GTX 1080. Accelerated render error. We get these errors over and over again. If you remove Lumetri effects is there any way to add them back in without it throwing so many errors?

Just a note to say that I inadvertently was signed in as Anonymous and posted the below comment; it was me (ElJay_Bronx) not sure how that happened. I just hope the problem gets identified and fixed.
Jay

I'm having a similar problem. System: i7-4770; 32GB DDR3 RAM. 30TB eSATA RAID. C drive is 500GB SSD. Graphics: 1050Ti/4GB
I have a complex project (two cameras 4K footage; editing was with proxies). The shoot was of an opera with dramatic lighting changes.
Export via AME with CUDA selected (2.5 hour opera set to encode to "match source-high bitrate" in about 3.5 hours).
Project fails at the first Lumetri effect.
Per advice from the Forum, switched OFF "import sequences natively" in General Preferences | Premiere Pro. This bought about 9 minutes before fail (previous fail was at 1h 11m, this one was at 1h 20m; fail point appears to be a switch between cameras. Both cameras are set to similar ISO, shutter speed, iris; both have similar Lumetri effect applied. I may have used copy | paste attribute to add the exact Lumetri effect). Turned OFF CUDA in AME, went software-only, and the project exported successfully but took an extra hour. My conclusion: Something's buggy in the commands AME is sending to the GPU. Set in/out points around the fail point and exported only in to out and got the following fail report:
Export Error
Error compiling movie.
Accelerated Renderer Error
Unable to produce frame.
Writing with exporter: H.264
Writing to file: \\?\N:\Premiere projects\Chelsea Opera\World\0513 FREISCHUTZ COMPLETE.mp4
Writing file type: H264
Around timecode: 02;19;46;18 - 02;19;46;26
Rendering at offset: 4259.355 seconds
Component: H.264 of type Exporter
Selector: 9
Error code: -1609629695
NOTE: In to out was 4 minutes and started at 1;19;27;17 so the timing above is wildly inaccurate.
I hope this helps in trying to identify and correct the problem.

Here is a rundown of much of my issue. When I remove the lumetri grade, I'm allowed to export. Now, I've since given up on this whole thing. I rolled my entire documentary back to 12.0.1 and just duplicated the edits I made.

https://forums.adobe.com/thread/2516508

Josh, sorry to hear about the frustrating problems you are running into. I am on the color team that maintains Lumetri and I'd like to help you get to the bottom of this, but I will need more info. Can you tell me if there are any error messages and what they say? Are you failing with GPU acceleration, software rendering, both? Are you sending the job to AME or exporting directly from PPro - any difference there? Did you render the timeline first and are you using previews during export? Does it successfully render the timeline or does that fail too? Have you tried using codecs such as Prores / DNxHD / Cineform rather than H264/AVC codecs - any difference? What Nvidia driver are you running? GH5 . . . I assume you are cutting in 4K, any difference on regular HD projects? I'm here to help you are still in a jam.

*64gb of RAM