Hmmm - can you post a screen shot with the preset panel expanded and the image showing in loupe view? Please include the whole Lr window.
Can you try a B&W preset? Also can you expand the Basic panel? The loupe view is the view that you have shown. Thank you. The screen shots help.
The image you have selected is a .jpg of an HDR image... shouldn't make a difference, but what happens if you try this preset on a RAW image...
Please post a screen-clip of your Lightroom System Info. (by 'Insert Image' icon )
It would help if you show the top ~20 lines in the box Menu > Help > System Info
It seems that "Presets not working" is a symptom happening to some who have managed to upgrade their system from a 'Perpetual version 6' to a 'Creative Cloud version 7', and If you don't subscribe, and have Lightroom 6, then you can't have LR Classic.
So, the two questions-
1) Do you subscribe to Creative Cloud?
2) What does your System Info report your Version NUMBER of Lightroom?