@JayantaPoddar; Ok, tried all three suggestions...no dice. Additionally, I tested all basemaps and found four are not working:
Imagery,
Imagery Hybrid,
Oceans,
USA Topo Maps
If the basemap has a text reference layer, the reference layer will display, but the imagery will not, as seen in the following image:
Here is a shot of the Streets basemap which is working correctly (same project file).
Any further suggestions would be much appreciated.
Thank you,
Tyler
ArcGIS Pro 2.8.3