It sounds like this file is getting corrupted during the transfer. I've seen a few reports that a few users are noticing Monterey is corrupting files during a transfer when using the Finder, but the command line is fine (it does not appear to be widespread). Are you using any anti-virus software, cleaning apps, or third party security software as that may be interfering with the normal operation of macOS and perhaps modifying the file in the process.
Or this could indicate a hardware issue of some sort such as a bad SSD or bad memory or Logic Board, or an issue with the external drive or cable/adapter, or the laptop's ports. Or maybe the file system is corrupt.
How about transferring the file from the iPhone to your laptop via AirDrop? Does the file display fine on the iPhone?
You need to figure out where this corruption is occurring. From what you posted here, the only time you have a problem is when transferring the file from an external drive onto your laptop. If you are using different drives, then it would mean a cable, adapter, dock, hub, or the laptop's ports are bad. If AirDrop has the same issue, then it likely means your laptop's Logic Board is bad since recent Macs have integrated memory & SSDs.