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dpx/cineon footage - over range gamma converted into 1.
32 bit linear rec 709 workspace.
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Have you actually set up your color mangement correctly? Applied a profile or LUT? This looks like the values are suddenly inverting, which is a typical sign of ranges being completely out of wack, be it just for display purposes. Other than that the boring, repetitive answer would be the same old hardware acceleration issues, so looking into those settings, including any system level monitor profiles might be a good idea.
Mylenium
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So, did a bit of checking and the problem seems to stem from the color profile of the footage (interpretation) this issue does not arise when the footage is zoomed to 100%. keeping the footage in the project workspace(rec 709 2.4 gamma linear) does not show the lines but any other profile shows it. any solutions?
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It looks like you are in the HSL Secondary section of Lumetri and have turned on Show Masks. We can't know for sure because you have not shown us the modified properties of the timeline (press uu).