How many points? Perhaps try on a very small subset initially. Also ensure there's no projection issues or mismatches.
I'd also advise putting the points into a feature class which should be more robust.
Can you share your tool inputs and parameters and any geoprocessing messages you may have in the history.
The subset is small and I have no projection issues that I can tell. When I put the shapefile into a feature class, it is also not outputting the points. It generates an empty output. I included a pic of the spatial reference of both layers to ensure it is not projection issue. Many thanks for the help.
I would probably then run check geometry / repair geometry to see if that's the issue. There's likely something wrong with the shapefile. Also as Jayanta et al have said - extract values to points is also the best tool when the shapefile issue is sorted.
The Raster layer doesn't look correct. Min./Max. values are same. Could you run Calculate Statistics, on the Raster and check if the Min./Max. values change.
As mentioned by David, I would also check if the coordinate system are same as well (for both the Raster as well as the Point layer).
If you are extracting values from a single-band raster, Extract Values to Points should work.
Restart ArcGIS Pro and your system, if you haven't done it in a while.
Please ensure that your raster and shapefile both are the same. If points are less and it's not covered the entire raster I could suggest you to set the environmental setting in the geoprocessing tool and set the extent. And later as suggested by Jayanta go for Extract values to point as it's single-band raster.