I can see that the .psd file open in Photoshp has the latest update but the preview in the Lightoom Classic is not. I already tried selected the file and go to Library --> Previews --> Build Standard - Sized Previews
And this is the window I see.
However, the preview is still not updating. In Photoshop, I save the image with different name in .tiff extension and then in LR, I Syncrhonize Folder and it found the .tiff file but the preview is still incorrect.
I'm on MacOS Monterey version 12.6 with Lightroom classic version 11.5 and Photoshop version 23.5.1.
Here's another weird thing...from the Libray, if I select the image and hit F for full screen preview, it shows the correct changes. However, from the Library if I hit "D" to go into Develop and then hit F for full screen preview then the changes are not there.