Sometimes YouTube changes some things and a new script/lua is needed. This is an article referencing it but note that the needed file may change in the future.
https://forum.videolan.org/viewtopic.php?f=14&t=152202&sid=9cb9a346ea8550b31e7accaeb79abb8d
And here is what can be emailed to people.
We have to update a little file until VLC does it with an update later.
Close VLC
Download this file
And place it here, overwriting the existing youtube.lua file
C:\Program Files (x86)\VideoLAN\VLC\lua\playlist
Now try your YT link.