Does anyone have any idea what's happening here? i've tried everything.

Does anyone have any idea what is happening here? I was editing my video when i eventually wanted to add some text to it and this strange issue started happening. No text popping up whatsoever just the red line and red box. I have cleared cache, reinstalled premiere, reset layout, reset preferences, and restarted my computer. I'm using a macbook pro 14 inch M4 pro chip. What's ever weirder is my text was working fine today and out of the blue it started doing this. I went back to another video today to see if the text on that one was fine and it also bugged out and wasen't showing up anymore. No matter what i try nothing is working.