Save for Web (Legacy) preview is mostly empty in Photoshop 2024

When saving any image using File → Export → Save for Web (Legacy), the preview area is almost always empty, regardless of export format. If the image is larger than approximately 800x500 pixels, some portion of the image is visible in the Save for Web (Legacy) preview. It's as if the coordinates of the preview are off by a significant margin.

Photoshop 2024 (25.0.0)

macOS Sonoma 14.0 (23A344)

Apple Silicon M2 Pro