Yellow screen instead of video screensaver

When I choose a video screen saver in System Preferences > Screen Saver and my computer goes to sleep the screen turns solid yellow instead of showing the screen saver.

The same issue if I choose a video Wallpaper and toggle "Show as screen saver" to on.

This does not happen with the other modes: Colors, Pictures, Dynamic Wallpapers

Another issue related to screen glitches is the solid red toolbar that appears while I am using Safari.

I have restarted and toggled all of the relevant settings on/off and it recurs.

I have to restart my iMac each time this happens to remedy the issue.

Any clue what is happening here: some corrupted files or a known bug?

Hardware Overview:

  Model Name:	iMac
  Model Identifier:	iMac19,1
  Processor Name:	8-Core Intel Core i9
  Processor Speed:	3.6 GHz
  Number of Processors:	1
  Total Number of Cores:	8
  L2 Cache (per Core):	256 KB
  L3 Cache:	16 MB
  Hyper-Threading Technology:	Enabled
  Memory:	128 GB
  System Firmware Version:	2022.100.22.0.0
  OS Loader Version:	580.140.1~8
  SMC Version (system):	2.46f12
  Serial Number (system):	C02YF1BYJV40
  Hardware UUID:	3B817DC3-D502-58AC-8C20-3CA821CF11C8
  Provisioning UDID:	3B817DC3-D502-58AC-8C20-3CA821CF11C8

Radeon Pro 580X:

  Chipset Model:	Radeon Pro 580X
  Type:	GPU
  Bus:	PCIe
  PCIe Lane Width:	x16
  VRAM (Total):	8 GB
  Vendor:	AMD (0x1002)
  Device ID:	0x67df
  Revision ID:	0x00c0
  ROM Revision:	113-D0008A-042
  VBIOS Version:	113-D0008A1X-009
  EFI Driver Version:	01.B1.042
  Metal Support:	Metal 2
  Displays:
iMac:
  Display Type:	Built-In Retina LCD
  Resolution:	Retina 5K (5120 x 2880)
  Framebuffer Depth:	30-Bit Color (ARGB2101010)
  Main Display:	Yes
  Mirror:	Off
  Online:	Yes
  Automatically Adjust Brightness:	Yes
  Connection Type:	Internal
Memory Slots:

  ECC:	Disabled
  Upgradeable Memory:	Yes

BANK 0/ChannelA-DIMM0:

  Size:	32 GB
  Type:	DDR4
  Speed:	2667 MHz
  Status:	OK
  Manufacturer:	0
  Part Number:	0x00000000
  Serial Number:	77863763

BANK 1/ChannelA-DIMM1:

  Size:	32 GB
  Type:	DDR4
  Speed:	2667 MHz
  Status:	OK
  Manufacturer:	0
  Part Number:	Unknown
  Serial Number:	77863840

BANK 2/ChannelB-DIMM0:

  Size:	32 GB
  Type:	DDR4
  Speed:	2667 MHz
  Status:	OK
  Manufacturer:	0
  Part Number:	Unknown
  Serial Number:	770B0000

BANK 3/ChannelB-DIMM1:

  Size:	32 GB
  Type:	DDR4
  Speed:	2667 MHz
  Status:	OK
  Manufacturer:	0
  Part Number:	Unknown
  Serial Number:	77863812

Power On Self-Test:

  Last Run:	9/1/24, 1:47 PM
  Result:	Passed