Black Screen when using Slip/Slide Tool

I am having a weird issue when using the Slip/Slide tool in Premiere, where it doesn't show me previews only black with timecodes. Not sure if it is a setting, but makes it almost impossible to use those tools.

I have attached a screen recording for reference.

https://www.loom.com/share/c0a5bd3172054256b024caf01a7866bf?sid=0c0dc39e-214f-4516-994e-ed47673ec82c

System:

Windows 11

Processor Intel(R) Core(TM) i7-9700K CPU @ 3.60GHz 3.60 GHz
Installed RAM 32.0 GB

Geforce RTX2070 Super w/ Geforce Studio Driver 566.36