Just did an update on my main computer for Camera Raw 9.7 and now, my images won't open, they just display geometric shapes of blue and yellow. If I take the same image onto my laptop, which has Camera Raw 9.6.1 and it opens fine properly.
Creative Cloud apps are all updated, with the exception of Camera Raw on the laptop.
Go to your camera raw preferences and uncheck the graphics processor option at the bottom of the preferences dialog. If that doesn't resolve the issue then please post a screenshot of what you are seeing.