Various issues

Part 1

What we now or can gather from your posting:

• Lightroom Classic, perhaps v13
• Windows OS
• A JPEG file
• You are using the original Photo, not a Smart Preview, and the photo is not missing
• Your in the Develop Module
• You have the Highlite Clipping indicator turned on
• No Crop, no Removal, no Red Eye, and no Masking, has been applied
• Navigation panel. Thumbnail in Filmstrip, and Loupe View in Develop Module look like a corrupt file

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Part 2

What we do not know, and could help

• Actual LrC version, latest is v13.5. what is yours
• Windows OS version, is this Windows 10 or 11?
• CPU
• RAM
• GPU make/model
• GPU Driver version
• GPU VRAM
• Where you keep your catalog
• Where you keep your  photos  (might not be relevant)

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PART 3

Some fairly obvious questions you could have included as attempted, or assumed would be asked:

1. Does this particular image look as bad in camera?
2. I see you have lots of presets, and the preset panel is sticking out like a sore thumb. What preset was applied?
3. Do other photos display this issue if you select them?
4. Did this image previously look OK?
5. If this particular image looked Ok previously, what changed?

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Part 4

And an observation/request

Many members when they include a screenshot have that Presets Panel very much present, at the expense of not showing the History Panel. The History Panel, may give a clue. Can you post in a reply a new screenshot, this one showing the History panel.

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Part 6

And a standard request, in effect a SOP for replying to members posts when they lack info. This may answer several bits of info mentioned above in Part 2:

Please post your System Information as Lightroom Classic (LrC) reports it. In LrC click on Help, then System Info, then Copy. Paste that information into a reply. Please present all information from first line down to and including Plug-in Info. Info after Plug-in info can be cut out as that is just so much dead space to us non-Techs and it takes up vast amounts of scroll space making the reply less readable and less likely that others will bother with your post.