Purple and Green video after import

I am trying to work with some Mavic 2 Pro footage (H.265) and now after import it looks like that in the below image. Is this some sort of overlay turned on by default after a recent update? Everything use to be okay. I am using the latest version of PP. Note the footage looks fine if played thru a normal player. I also converted to H.264 and received the same results. I'm guessing I am missing something very easy. Any help would be greatly appreciated.