know the Graphics card is compatible because it is automatically turning gpu on when the effect is applied.
Just because the GPU is enabled when you apply the effect does not mean the GPU is compatible. That's just the way the effect was programed.
I would check with the manufacturer. It is not uncommon for GPU acceleration to be buggy in both Premiere Pro and AE.
Gpu is working fine in all other plugins that are using the gpu including after effects and premiere just not with this one plugin.I experienced something similar a few years back with something else that caused the screen to go black when enabiling the gpu but can't remember what the solution was.My other computer has this plugin as well but gpu is not compatible with that one and gpu is grayed out.On this machine the effect automatically enables the gpu and the program monitor is black until I uncheck "enable gpu"
Just because the GPU is working fine with other plug-ins does not mean that it will work with this one. Those are just the facts. Every plug-in is written with it's own set of code and sometimes you end up with a bug. Check with Red Giant. This may not be an isolated event. I've seen this more than once since the development of GPU accelerated effects. It is also not unique to Adobe products.