Does this only happen on version 2025? Have you verified that the .ase file has colors in it and works on previous versions? Is this an issue on PC or Mac and what particular version-number of After Effects are you seeing this happen to?
Is there a specific version that you are encountering this issue on? Something like 25.1.0 or 25.3.0?
There seems to be some reported issues with 25.3 causing black frames that will require one to clear their cache:
https://www.reddit.com/r/AfterEffects/comments/1laqb9b/just_a_heads_up_the_new_2...