Make sure they are not hidden.
Launch Mail app.
Show sidebar.
Move mouse pointer to the far right of “Favorites”.
A forward pointing arrow tip (Show) will appear.
Click it. Arrow (chevron) will turn downward showing mail boxes.

https://support.apple.com/guide/mail/use-favorite-mailboxes-mlhl6e39ca4a/mac
If the problem persists, you may need to rebuild a mailbox.
https://support.apple.com/en-bh/guide/mail/mlhlp1224/mac
If the steps posted above don't help, Contact Apple.
Contact Apple Care
Every Mac comes with one year of hardware repair coverage through its limited warranty and up to 90 days of complimentary technical support.
- By calling 800-275-2273 (requires you to run a remote diagnostic and provide proof of purchase)
- U.S. technical support: (800) APL–CARE (800–275–2273