Paste/Place Errors

I updated Photoshop today, and since I've been getting errors. When I try copy something from Illustrator and then paste into Photoshop as either Pixels or a Smart Object, I get an error of "Could not complete the Paste command because the ICC profile is invalid." If I try to place the file instead, I get "Could not place the document because the current document has an input-only color profile."

How can I fix this? I have never had this issue prior to today.