Illustrator 2024 (28.7.1) unable to find plugin or read linked .psd or .jpg files

I am running Illustrator 2024 (28.7.1) on Mac OS (14.6.1 (23G93)). When I open an Illustrator file where I have placed images that are linked (jpg's and Photoshop files) I get error messages that state something like the following:

"Cuold not find a plug-in to read the linked file "xxxxx.psd". Choose Replace to select another file or ignore to leave the link unchanged."

"Illustrator could not read the link "xxxxxx.jpg". Click "Replace" to select another link or Click "Ignore" to open the file without changing this link."

If I choose to "Ignore" and then try to re-link the file, I get similar errors. I also cannot link new files. The dialog box opens to select a new file to link with .psd and .jpg files available to choose, but then I get an error after trying to link them.

I have Photoshop installed on my machine, and I certainly can open .jpg's with a variety of programs. I just updated both Illustrator and Photoshop to the most recent versions. It's been a little bit since I've opened these kinds of files on this computer (it works fine on my work desktop), so I'm not sure when this probem started occuring, I just know I haven't had this problem in the past.

All of the help articles I've found so far seem to refer to a plugin issue that people are having such that Illustrator crashes when it opens, or a Windows version, or 3rd party plugins. I have no third party plugins installed and everything I have used to create these files is native to Adobe Illustrator or Photoshop. I would appreciate if someone could please help me resolve this issue. Thank you.