It does look like there is some transition active. It does not look like a 'normal' video display issue. Have you checked that? Any features or overlays active?
Do you use RGB or YUV for the preview, have you tried both?

Have you tried to watch this clip in a new project?
and all the other obvious, like updates of system and drivers and even PD (which versions is it).
and last suggestion: show the clip with CL technical support, they may have a look at this, after they have suggested the above too.

I recall this issue posted in another forum about a year ago and don’t recall the solution. Is this a 10 bit video? You can use mediainfo online to determine the properties of the video, download it as text, and attach it here on your next reply. Link: https://mediaarea.net/MediaInfoOnline . Someone then may be able to suggest a possible solution. You may also attach a 5 second raw video from the device for users here to test on their pc.

Thank you for your replies.

Solution: Disable Hardware decoding

@Warry, I doe not have any transition active. This problem is also shown when playing a video from the media library. And when using the pre-cut tool.
I tried changing to YUV/RGB, but nothing I change here seems to make any difference.

WOW, when checking this, I tested to disable hardware decoding. Disabling this was the solution.

@tomasc
Below a file description of a file that shows correctly, and a file description of a file that does not show correctly.
Both files are shot with a Samsung phone with similar settings.

Displayed incorrectly (bars as example)
General
Format : MPEG-4
Format profile : Base Media / Version 2
Codec ID : mp42 (isom/mp42)
File size : 147 MiB
Duration : 43 s 660 ms
Overall bit rate : 28.2 Mb/s
Frame rate : 30.000 FPS
com.android.version : 12

Video
ID : 1
Format : HEVC
Format/Info : High Efficiency Video Coding
Format profile : Main@L5.1@Main
Codec ID : hvc1
Codec ID/Info : High Efficiency Video Coding
Duration : 43 s 660 ms
Bit rate : 27.9 Mb/s
Width : 3 840 pixels
Height : 2 160 pixels
Display aspect ratio : 16:9
Rotation : 180�
Frame rate mode : Variable
Frame rate : 30.000 FPS
Minimum frame rate : 29.654 FPS
Maximum frame rate : 30.344 FPS
Real frame rate : 30.000 FPS
Color space : YUV
Chroma subsampling : 4:2:0
Bit depth : 8 bits
Bits/(Pixel*Frame) : 0.112
Stream size : 145 MiB (99%)
Title : VideoHandle
Language : English
Encoded date : 2023-08-02 12:58:49 UTC
Tagged date : 2023-08-02 12:58:49 UTC
Color range : Limited
Color primaries : BT.709
Transfer characteristics : BT.709
Matrix coefficients : BT.709
mdhd_Duration : 43660
Codec configuration box : hvcC

Audio
ID : 2
Format : AAC LC
Format/Info : Advanced Audio Codec Low Complexity
Codec ID : 2 / 40 / mp4a-40-2
Duration : 43 s 636 ms
Source duration : 43 s 605 ms
Bit rate mode : Constant
Bit rate : 256 kb/s
Channel(s) : 2 channels
Channel layout : L R
Sampling rate : 48.0 kHz
Frame rate : 46.875 FPS (1024 SPF)
Compression mode : Lossy
Stream size : 1.33 MiB (1%)
Source stream size : 1.33 MiB (1%)
Title : SoundHandle
Language : English
Encoded date : 2023-08-02 12:58:49 UTC
Tagged date : 2023-08-02 12:58:49 UTC
mdhd_Duration : 43636

Displayed correctly (no bars):
Format : MPEG-4
Format profile : Base Media / Version 2
Codec ID : mp42 (isom/mp42)
File size : 77.9 MiB
Duration : 23 s 127 ms
Overall bit rate : 28.3 Mb/s
Frame rate : 29.792 FPS
Performer : Samsung SM-G990B
com.android.version : 13

Video
ID : 1
Format : HEVC
Format/Info : High Efficiency Video Coding
Format profile : Main@L5.1@Main
Codec ID : hvc1
Codec ID/Info : High Efficiency Video Coding
Duration : 23 s 127 ms
Bit rate : 28.0 Mb/s
Width : 3 840 pixels
Height : 2 160 pixels
Display aspect ratio : 16:9
Frame rate mode : Variable
Frame rate : 29.792 FPS
Minimum frame rate : 14.998 FPS
Maximum frame rate : 30.644 FPS
Real frame rate : 30.000 FPS
Standard : PAL
Color space : YUV
Chroma subsampling : 4:2:0
Bit depth : 8 bits
Bits/(Pixel*Frame) : 0.113
Stream size : 77.2 MiB (99%)
Title : VideoHandle
Language : English
Encoded date : 2023-08-02 12:15:10 UTC
Tagged date : 2023-08-02 12:15:10 UTC
Color range : Limited
Color primaries : BT.709
Transfer characteristics : BT.709
Matrix coefficients : BT.709
Codec configuration box : hvcC

Audio
ID : 2
Format : AAC LC
Format/Info : Advanced Audio Codec Low Complexity
Codec ID : 2 / 40 / mp4a-40-2
Duration : 23 s 116 ms
Source duration : 22 s 976 ms
Bit rate mode : Constant
Bit rate : 256 kb/s
Channel(s) : 2 channels
Channel layout : L R
Sampling rate : 48.0 kHz
Frame rate : 46.875 FPS (1024 SPF)
Compression mode : Lossy

Thank you for your reply. Unchecking hardware decoding in Preferences/Hardware acceleration was the answer that worked in the other post. I believe what threw both Warry and I in supplying this correct answer is your statement that the Hardware acceleration was disabled. Took this to mean the setting in Preferences and not the Fast Video Rendering Technology that you meant.

Glad that everything is working for you now.

Good that it works for you!
Nevertheless, there is something not working properly, We have seen that the hardware decoding has been cause of many problems over the years.
Since CL is not reading these posts, it may be a good idea to share the problem with CL technical support directly. It should already be on their list, but maybe the increase in amount will put it a bit higher