Nope, it's the plain old VLC with H/W acceleration, so it'll play whatever you throw at it. MP4? MKV? MOV? doesn't matter. It should play them perfectly without any lag or issues. What type of hardware are you using?
I discovered the problem: not all mp4 files are the same. Although the file played in omxplayer but not vlc if I ran it through the wondershare video converter from the original mp4 it was in to the converter’s mp4 (with compression) it now runs in vlc. I guess there different “flavors” of mp4 files?
The issue might be due to the missing header in the MP4 file. When you converted the video file, the converter could fix the header. You could probably playback your source MP4 video file as well simply by fixing its header, as described in this article: https://restore.media/blog/how-to-fix-c ... -mp4-files