New images won't show up in the Composition Panel. (I only see handles but images are invisible)

Hi all,

No matter what I try I can not get new images to show up in my Composition Panel.

They appear in my timeline as a layer just fine, but I can only see the handles for them in the Composition Panel while the image itself remains invisible. I tried the following ideas to troubleshoot so far:

• I tried multiple ways to import them. (File>import vs. drag/drop)
• I tried dragging them directly onto the timeline vs. dragging it directly into the timeline layers.
• I tried importing different file formats (.png and .psd)
• I tried re-saving the images and giving them a different names. 
• I tried changing the images into comps and dragging them onto my timeline.  
• I made sure the timeline layer is not locked or hidden.
• I made sure the opacity is 100%
• I tested the images in a different file and they worked fine. 
• I quit After Effects.
• I restarted my machine. 
• THE ONLY THING I HAVE NOT DONE is to clear my cache. I was afraid to do it because it said it was 293 GB of cache and I thought that large amoutn must be for more than just After Effects. I did not want to mess up all my other application prefs and log-ins etc...  
• Everything else already on the timeline previews fine — except any new images. 

My computer is fine. Mac Studio / M2 Ultra / 64 GB Ram / 4TB SSD

I attached screenshots below.

Can anyone help with this issue? Many thanks for your time and feedback!