Frustrated by Missing Wave Forms

Over the past few weeks, I've noticed that when I drag a clip onto the timeline, most of the time is wave form is not showing on the audio track.  I always refer to the wave form as I make my final edits to my videos.

I pursued all of the options I found online in terms of settings that might not be correct - and they were all set as they were supposed to be set.  Plus, I don't regularly go in and make adjustments in those settings.  I've restarted Premiere - and the issue remains.  I restart my computer - and the issue remains.

I'm having a hard time thinking it is just a function of lack of resources on my MacBook Pro.  It is relatively new with the Apple M2 Max chip and 96 GB of memory.  The harddrive is 2 TB, and I have about 75% of that space still available.

Is anyone else experiencing this issue?  If so, can you let me know if you may have come across a solution?  I'm very disappointed.  Thanks in advance.