I converted a VCD to output.mp4 using default options. The file could be played with VLC but there was no sound when playing with Windows Media Player. This was obviously an audio codec issue so I selected output.mpg, H264 as video codec and MP3 as audio codec, converted and saved the result to output1.mp4. However, output1.mp4 was only a fraction of the size of output.mpg and had no video.
I tried to set different video codec and the resulting files always had no video. Eventually, I converted from VCD directly with appropriate video and audio codec and the resulting mp4 file could be played with Windows Media Player.
This is on a windows 10 machine with the latest version of VLC (3.0.20).