Among all reasons that result in VLC won't play M4V files, the following two are the most likely causes:
• .m4v codec get removed from VLC Media Player, so you even cannot play DRM-free M4V files.
• The M4V movies and TV shows bought from iTunes Store are protected by Apple' FairPlay DRM, and they can't be played on non-Apple devices or video players.
To play M4V files on VLC Media Player, we need to first remove DRM from iTunes videos and then convert M4V to MP4.
iTunes M4V Converter for Mac is considered as the best program to convert and play iTunes M4V videos on VLC Media Player. This professional M4V DRM Removal tool can help you remove DRM from both rental and purchased M4V movies, TV shows or music videos from iTunes Store, and then convert M4V to DRM-free MP4 with 5.1 audio tracks and all subtitles preserved.