When you set it to open as a Smart Object and subsequently double-click the SO does it open as expected?
Are Photoshop, Camera Raw and OS fully updated and have you performed the usual trouble-shooting routines (trashing prefs by keeping command-alt-shift/ctrl-alt-shift pressed while starting Photoshop and manually for Camera Raw, 3rd party plug-ins deactivation, system maintenance, font validation, etc.)?
No. Occasionally if image opened in SO and click on and off on the layer eye the image appears. But,stress, is very inconsistant