I am rendering within Premiere Pro.
I used Adobe media player & VLC Media player
Those are contradictory statements. Rendering doesn't create a file for playback outside of PP, exporting does.
The problem is likely that you have a settings mismatch. Is the clip genuinely 1920 x 1080 with a PAR of 1.33, because that's very unusual. It's either 1920 x 1080 with a 1.0 PAR, or it's 1440 x 1080 with a 1.33 PAR.
Also, what are your sequence settings?