The clip is likely in HLG color space, and that ain't what you probably want to be working in.
So ... in the Project panel, right-click Properties. If the clip shows HLG for color space ... yep.
Then right-click the clip (or clips) in the bin, Modify/Interpret Footage, and set the color management Override to Rec.709 option.
Then make sure your sequence CM is set to Rec.709.
I'm including a couple FAQs that explain the massive new CM changes and default behaviorst in Premiere 2022. And how to set monitors if you wish to work in HDR.
Neil
FAQ:PremierePro 2022 Color Management for Log/RAW Media
How to Set Monitors for HDR work in Premiere Pro 2022?