Type Tool bug - does not allow multiple text lines

When i enter text and hit return to create a second line the text entered after the line break does not show. I know the text is accepted as entered as the layer name in the layers panel reflect this.
Similarly, if I create a new text box with plenty of room for several lines and fill it with “Lorem ipsum …” only one top line is shown.
I have not altered Preferences since this last worked
I’ve read about someone solving the same problem by going into preferences and set it all back to Default. However, I hope not to have to do this as then I have to set up my PS from scratch, and I do not remember all the preference settings I have made over time.
Version CC 2019 20.0.06

