Images open heavily overexposed in Photoshop Beta 27.10

Photoshop version: Photoshop Beta 27.10

OS: macOS Tahoe 26.5

Steps to reproduce

Open Photoshop Beta 27.10.

Open an existing TIFF.

The image opens significantly overexposed, even though the file itself is correct. Tested in regular PS.

Expected result:

The image should display with the correct exposure every time it is opened.

Actual result:

The image randomly opens heavily overexposed. The file itself is not affected—only the display in Photoshop Beta is incorrect.

Additional information:

I started experiencing this immediately after updating to Photoshop Beta 27.10.

I've been using the new Light Adjustment layer, so there may be a connection, although I can't confirm it.