Red no signal indicates that the Roxio device is being recognized properly but it is not receiving a HDMI signal from your Switch device.
As a quick test, try another source of HDMI signal (DVD player) eg.
What do you have the TV option set too on the Switch?
Does the tape your having problems with play ok in your VCR.?
Try another tape or two. Some users have found that the EVD is very sensitive to any interrupt or 'noise' on a tape. When it sees that, it sees it as end of tape and stops.
Try using the Record - Edit - Save part of the program instead of the Record DVD. (reason? one glitch and you lose a dvd)
Lets start with some basic stuff. First....It appears it works OK when using a Component signal source fine, is this correct?
If so, try using a different HDMI source, like a DVD player/HDMI out from your computer.
"Just an aside, when I look at "Bluetooth or other devices" or "devices and printers" within Windows 10 I only see "roxio video capture USB" as an audio device. Is that correct? "
Are you seeing this as well as the 2 devices in " sound video and game controllers" .
You have got the right drivers,so tell us how you have got your VCR hooked up to your capture device...details.
User guide https://www.roxio.com/static/roxio/docs/guides/gsg/VHStoDVD3/Easy_VHS_to_DVD_GSG_ENU.pdf