If you are using Windows try the following (not sure what the equivalent is on Macs):
Find the file "C:\Users\<User Name>\AppData\Roaming\Adobe\CameraRaw\GPU\Adobe Photoshop Camera Raw\Camera Raw GPU Config.txt"
Delete this file or rename it if that scares you.
Next time you open Camera Raw the configuration file will be rebuilt then hopefully your problem will disappear.
I had the same issue initially and this cured the problem for me.
thanks a lot. Deleting/Renaming the "Camera Raw GPU Config.txt" did not work for me. But you put me on the right track. Once being there I also discovered a closer look and there is, now was, another file named "TempDisableGPU2". Deleting this file or renaming it helped an brought back the fully functional ACR.
Kind regards, Thomas
Thanks for posting here. I have a gtx 1070 and got the same issue. But don't have any of these files to delete. Im quite new here. Appreciate any help.