This is the green bug.
Pro 1.5 does not handle large images very, they turn green.
Reduce the size to project size. When zooming/panning use twice the project size.
Premiere can be difficult sometimes. During capture the preview stays black. Be sure the project is set to hdv and the camera and the tape set to the first visual frame. Premiere needs a timecode to capture.
A very handy capture tool is HDV Split. This will give you preview and scene detection. Try that, much easier. https://strony.aster.pl/paviko/hdvsplit.htm
Leave your 4:3 footage as it is, making it widescreen gives you qualityloss.
You can do a little magic: letterbox.
Go to title/new title/based on template.
Twirle down Mattes and choose Letterbox Matte. Hit OK. Close Titler.
Put this title in a superimposed track and strech it over all the footage.
Now if the footage does not fit the window very nice you can adjust the horizonal position with Motion in the Effect Controls.