Checking Adobe Creative Cloud yesterday I saw that Photoshop had an update to 23.3 and there were also updates for Lightroom and Camera Raw.
I updated Photoshop and Lightroom but when I opened the former and loaded a photograph to edit, I found that it was not as it should be . Although I could see the actual picture in the Layers panel, the work area showed a blank white area with no image. Several other attempts resulted in the same thing.
Looking to see if anyone else had problems I didn’t really find anything (it turns out it was out there I just didn’t see it) so I rewound the installation back to version 23.2.
It was after that I found that this error was common after the update with many, many people having the same problem.
In (version) 23.3 we introduced GPU compositing, which might be the cause of your issue. Can you try disabling GPU compositing in the performance preferences and see if the issue goes away? The checkbox is disable is at Preferences > Performance > Advanced Settings > GPU compositing. To disable (it), you just need to uncheck the box and hit OK on both windows. There’s no need for a restart.
This workaround seemed to have put it right for most people although I haven’t tried it yet.
n.b. I have just checked and the Photoshop version on Creative Cloud has changed from 23.3.0 to 23.3.2. I have downloaded this version and it seems to work fine with the above issue solved.