PSD is not working on the timeline in Premiere 2021

I ran into this issue as well. I am sure i just have a setting that is wrong somewhere but a quick solve is to if you have a clip already in the project that is working you can just place that where you want the new psd and replace the clip and for some reason that works. 

Thanks for the replies, guys. 

Let me give you additional info why I'm stating this as a bug report. 

- Fresh install of MacOS Big Sur 11.2.3

- MacPro 8 Core Xeon late 2013. 

- Fresh install of PremeirePro 15.0

- Opened v14 project and re-created an updated version of the project. 

- Imported new PSD. IN the viewer it opens fine. But once in the timeline the PSD does not show up. 
- Changed my media cache location and deteled all cache files. No change. 

If that doesn't work, try opening the PSD and resaving it under a different name.

Delete the Media Cache and Media Cache files:
https://community.adobe.com/t5/premiere-pro/faq-how-to-clear-your-media-cache-in-30-seconds-in-premiere-pro-2020/m-p/11017257/thread-id/260446?page=1

If that doesn't work,try resetting the preferences:
https://community.adobe.com/t5/premiere-pro/faq-how-to-reset-trash-preferences-in-premiere-pro/td-p/8236158?page=1

If that doesn't work, try resetting the Workspaces:
Reset a workspace
Reset the current workspace to return to its original, saved layout of panels.
1. Do one of the following:
• Click the Workspace menu icon and select Reset to Saved Layout.
• Choose Window > Workspace > Reset to Saved Layout.
from here:
https://helpx.adobe.com/premiere-pro/using/workspaces.html

If that doesn't work, try Preferences > Audio Hardware and set Input to None.

If that doesn’t work, try updating or rolling back your graphics driver directly from the video card manufacturer’s site. If NVIDIA, do a clean install of the latest Studio Driver (NOT the Game Driver).

If that doesn't work, try creating a new project and import the old one into it.

Also, please help us help you:
https://community.adobe.com/t5/premiere-pro/faq-what-information-should-i-provide-when-asking-a-question-on-this-forum/td-p/3929027?page=1