I recently bought one of these at a thrift store for $4 to digitize some tapes. I tried using my newest PC (AMD 5600x 32gb ram) and the video would freeze a few seconds into playing it. if I opened OBS at the same time, the audio would cut out but the video would keep playing on the elgato software. I finally gave up, don’t waste your time getting this device working on newer computers.
To get this working, I did have a spare PC and a windows 7 CD so I installed it on that computer, and after a little playing around with it it worked as intended not surprisingly, although a bit buggy, sometimes video would freeze unless you wen’t back to the video screen. also rewinding causes the video to freeze. I get the feeling if the signal on the software drops even a little bit, it will freeze the display on the elgato software. What I ended up doing was pressing play and right away quickly pressing next through the various screens and quickly started the recording.
If you do want to use this device I would suggest getting a cheap pc with windows 7 but don’t waste your time on newer