Camera Raw Display completely distorted

You are working in Photoshop, so try disabling the GPU in Photoshop by going to Edit > Preferences > Performance.

If  that fixes the issue, make sure your GPU driver is up to date.

If updating the driver doesn't help, please go to Help > System info, click the Copy button and post in a reply here.

Also note that the Photoshop Raw format is not commonly used, and has nothing to do with raw files. Use Tiff or PSD.

From https://helpx.adobe.com/photoshop/using/file-formats.html

The Photoshop Raw format is a flexible file format for transferring images between applications and computer platforms. This format supports CMYK, RGB, and grayscale images with alpha channels, and multichannel and Lab images without alpha channels. Documents saved in the Photoshop Raw format can be of any pixel or file size, but they cannot contain layers.

Note: A Photoshop Raw image is not in the same file format as a camera raw image file from a digital camera. A camera raw image file is in a camera-specific proprietary format that is essentially a “digital negative,” with no filtering, white balance adjustments, or other in-camera processing.