I thought this problem had been resolved, but yesterday, my laptop and desktop both updated with 2023-03 Cumulative Update for Windows 11 for x64-based Systems (KB5023698)
Now, when I bring up any folder that has .jpg files using File Explorer, I only get a generic icon and can't see the photo previews. When I click on one of the icons, I get a black screen that says "Photo can't open this file because the format is currently unsupported , or the file is corrupted"