Weird horizontal lines that distort the images have appeared on Premiere Pro/After Effects projects

Hi everyone,

Since yesterday, all my compositions (previously made and new ones) in After Effects, as well as videos in Premiere Pro have started looking distored with horizontal lines. Here is an example:

Keep in mind that I have restarted my computer 3-4 times since the occurance of this issue. Also, I have exported/rendered out projects to see if the problem persists on the output, but no, they came out fine. Only in the live editing windows, everything looks distorted such as the image above.

Has anyone ever had an issue like this? and do you know what is the fix?

Thank you,