Timeline is green/pink in Premiere

[#1]

PC Specs:
Motherboard: Asus ROG B450-F

CPU: Ryzen 7 3700x 8-Core @ 3.6GHz

GPU: Radeon RX 5600 XT 6GB

Memory: 32GB

Whenever I input any files into Premire I am getting issues with the files displaying green/pink colorations all over the image. I have tried using the software only encoder in project settings which fixes the issue but also causes Premiere to run rather slowly even with a small project. I have 28GB of Memory directly allocated to Premiere and no other programs running so there is plenty of system memory and graphics memory for the program to run. On top of that, I have tried to revert graphics drivers to no avail.

[#2]

PC Specs:
Motherboard: Asus ROG B450-F

CPU: Ryzen 7 3700x 8-Core @ 3.6GHz

GPU: Radeon RX 5600 XT 6GB

Memory: 32GB

Whenever I input any files into Premire I am getting issues with the files displaying green/pink colorations all over the image. I have tried using the software only encoder in project settings which fixes the issue but also causes Premiere to run rather slowly even with a small project. I have 28GB of Memory directly allocated to Premiere and no other programs running so there is plenty of system memory and graphics memory for the program to run. On top of that, I have tried to revert graphics drivers to no avail.

[#3]