Thanks John. Did that. Shutdown LR and then restarted to assure the setting was read. Deleted previous photos and imported them again. Same issue.
Also, new computer built in July 2016 to Adobe specs. Don't think it's that cause.
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This looks like corrupted files, caused by failing hardware - could be camera card, usb cable, card reader, hard drive or RAM.
The images look ok in the OS, LR import dialog and initially in the LR Library because you are then seeing the raw file's embedded jpg.
Corruption typically affects only the raw files and not the embedded jpgs.
Thank you, Per. I appreciate your insight.
I think you are correct. Tried this SD card in a different camera (after formatting) and it worked fine. Then tried another faster card in the M5 (after formatting). Both sets of test images imported to Lightroom fine. I think that eliminates any parts of the computer or card reader as issues as all that is the same throughout all these tests.
Will keep experimenting, with fingers crossed that it doesn't happen again.