Premiere Pro 24.5 - Lumetri color, Tint, and other effects not working

My Premiere Pro auto updated to version 24.5 and I’ve since found two color bugs so far across multiple project files:

A. Lumetri color doesn’t work.

I drag an adjustment layer onto my sequence and try moving the sliders in the “Lumetri Color” panel but nothing happens.

I’ve also done this on the clip itself, still no effect. Old color corrected clips are unaffected, but new ones do not take any color, whether manually applied or from pre-existing LUTs.

B. Tint effect doesn’t work.

Previous project files incorporating the tint effect do not work, even if I try to change the settings within the effect controls panel. New tint effects applied to clips or adjustment layers within a sequence also do not work.

As an experiment, I also tried the "Color replace" and "Brightness & Contrast" effects and no luck with either. So far, none of the color control seem to work on my end, which is a huge problem for my workflow. I'd love some insight into any workarounds folks have discovered. Thanks in advance!

SETUP SPECS:

Hardware:

Apple MacBook Pro 

Apple M3 Pro Chip

36 GB Ram

Operating system: Sonoma 14.4.1

Adobe Premiere Pro Version: 24.5