Speaker Notes Missing in Presenter View — PowerPoint for Mac

PowerPoint version: 16.114 (26101123), Microsoft 365 subscription Computer: MacBook with LG UltraFine external monitor

Problem

When I activate Presenter View, PowerPoint for Mac (version 16.114 (26101123)) displays the current slide and a horizontal strip of slide thumbnails at the bottom, but neither the speaker notes nor the next-slide preview appears.

The notes are present in the presentation and accessible through Notes Page view. The problem also occurs in newly created presentations containing speaker notes.

Troubleshooting already performed

• Restarted PowerPoint and tested a new presentation.
• Checked PowerPoint’s Slide Show preferences and presentation settings.
• Tested Presenter View with a single display and with two extended displays (MacBook and LG UltraFine).
• Confirmed that, with two displays, Presenter View appears on the MacBook and the slideshow on the external monitor.
• Looked for controls to expand or restore the missing Notes panel, including resize handles, dividers and menu options. None were found.

Question

Is this a known issue with PowerPoint for Mac version 16.114, possibly related to the redesigned Presenter View?

How can I restore the speaker notes and next-slide preview? Is there a way to reset the Presenter View layout without resetting all PowerPoint preferences?

Any assistance would be appreciated.