I've run into similar issues where deleting the cache solved the problem. This may or may not solve your problem but may be worth trying.
The visualization cache improves rendering performance. The cache is stored at [install drive]:\Users\<username>\AppData\Local\ESRI\Local Caches by default, but you can specify a different local path or UNC path to store the cache. As you work, the cache can get quite large, so choose a path that is always accessible and can accommodate a large amount of data. If the location is invalid or inaccessible, no cache will be created, and draw performance will likely suffer.
To troubleshoot rendering issues, or otherwise free up disk space, you can delete the entire cache by checking Clear cache. The cache will be deleted once you click OK to close the Options dialog box, and the project will close and reopen. You can remove the visualization cache for a specific layer using the layer's cache properties; the existing cache for other layers will not be removed.
You can request a redraw of the view by pressing the F5 key. This will draw from the cache and not invalidate it. You can also request a full refresh of the drawing cache (invalidating it rather than deleting it) by pressing Ctrl+F5.
If this does not work can you contact Esri Support? They are better equipped to handle troubleshooting steps and gather bug data. They can be contacted at https://support.esri.com/en/contact-tech-support.
