It was trying to use the ttml/dfxp file with ffmpeg, which doesn't have support for them. I broke it in e04398e397d4a4f7e0d0994355d5a94c22441e7c.
@@ -508,6 +508,7 @@ class FFmpegSubtitlesConvertorPP(FFmpegPostProcessor):
with io.open(srt_file, 'wt', encoding='utf-8') as f:
f.write(srt_data)
+ old_file = srt_file
ext = 'srt'
subs[lang] = {