Every material is solid black and unlit in preview

I’ve begun work on another project in UE5.5. I wanted to use some old assets from a previous project, mainly Material Instances and Textures, so I migrated them. After migration, every material and material instance looks the same in the preview, solid black and unlit. Interestingly enough, the materials work in the actual scene, but they look off.

Obviously this is making working with materials virtually impossible. Why could this be happening? I disabled Show Environment, nothing. Someone said to go to Engine/Content/EditorMeshes/AssetViewer and open Sphere_inversenormals and uncheck Support Ray Tracing, which also did nothing. Both Lumen and Nanite are disabled. I’ve never seen something like this happen before, what’s going on?

EDIT: After some research I found that opening the lighting menu and unchecking Auto EV and then messing with the exposure fixes it. While it’s a good workaround, it’s incredibly tedious to do it every time you open a material. I created a brand new project in the same engine version and created a new material, it looked fine. I opened this project and even switched it to Lumen, made a new material and the preview is completely black. Seeing as this never happened on previous projects, could this be from some innocuous toggle I hit somewhere that messed with the lighting?