Camera Raw: Filter not working - broken image preview (Windows)

This is usually an incompatibility with your graphics driver. Go to Preferences - Camera Raw and disable the use of the Graphics Processor all the way at the bottom of the dialog.

Thank you Johan.  Problem solved.  

If disabling Graphics Processor fixes the problem, try updating the graphics driver and re-enable Use Graphics Processor: https://helpx.adobe.com/photoshop/kb/acr-gpu-faq.html