I decided to build my very own VLC package for Manjaro. The official package has disabled the use of gcrypt library for some reason. Thus, many encrypted HLS streams can not by played.
Link to this package
This is neither an official buld, nor endorsed by Arch/Manjaro. I am not responsible for any damage to your computer. Use it at your own risk!
Download this package in a folder at your convenience. Open a terminal, go to that folder, and type:
sudo pacman -U vlc-3.0.12-1-x86_64.pkg.tar.zst
If you do not like the command line, use pamac and the "Install local packages" option in Pamac's menu.