Some questions to ask yourself + suggestions
What format are the source clips (does MediaInfo ("tree" or "text" view) show anything unusual about them?
What "export and preview" settings are you using? In particular, what preview quality are you using, and are you using background rendering for preview (optimization threshold > 0)? With previous Studio versions, if preview was set to "Best quality", the preview render files were created at the same frame size as the timeline setting, and Studio would use them during the export instead of re-rendering effects etc. again during the export. But weird things could occasionally happen at the "joins" between parts of the video where preview render files existed and parts where they did not.
Suggestions: If you are using preview quality = "Best quality", try changing it to "Balanced", deleting the render files and try the export again (so you can eliminate any weirdness in the render files). You could also try setting the optimization threshold to zero so that Studio does not create any background preview render files in the first place.
What export setttngs are you using? If exporting to a format such as MP4 using the H.264 or H.265 codec (where hardware acceleration in the GPU is used) - there might be a graphic driver issue...
Is the Nvidia graphic driver up to date (while checking, see if MSI have released an updated driver for the laptop's Intel graphics)?
Try setting Studio's hardware acceleration to "None" so that the hardware acceleration features of the GPU aren't used - and try the export again (yes, it will be a fair bit slower - but might eliminate thise grey cicrular arrows)
Try re-enabling the Intel graphics, launch Studio and set itsd hardware acceleration to "Intel" and try the export again. (Yes, you'll get the preview issue back - but if the export is reliable with no grey circular arrows, that would suggest an Nvidia driver issue...
HTH
Richard