If you're using an AMD graphics card, try downgrading your graphics driver to the version before 22.7.1.
Uh, I am using NVidia, not AMD.
Using F@ckVdia 730, the worst GPU ever...
But I still think I can run some small projects like this. I can play games like Offworld (From Epic Givaways) okay. Which of course recommends me to update the driver.
Is the material maker using Godot 4? That can be another reason if yes.