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Mac min M1 with 16 GB RAM, but closing a document or switching to Id after waking from monitor sleep (not CPU sleep) goes solid magenta.
I think it may be tide to MacOS 12.4.
Can you post a screen shot, this effect normally means the font(s) you selected have not been installed. Does the issue go away if you change the fonts to another?
What exactly goes solid magenta?
It's not really clear what's happening.
There's a thread on the Mac Forums here