Moode hangs up

[Nutul]

Should I perhaps do a restart and try regenerating the database again?

That will give you the same error; and if the error is discriminant for the update process not to finish, there will be no change.
Can you see any log before that one, showing a filename / path? as that would be the last successfully parsed file, and with a bit of logic and luck you might be able to deduce the offending one.
It is a generic error about audio file format, so, if you can just enumerate here the file types (extensions) in your library, maybe we can just spot the one that MPD doesn't seem to like...
Something like:
my file types:

.mp3, .flac, .aac, .ogg, .alac, etc etc etc

HTWH