I had a a similar problem as described - MacBook M1 Max - 15.2. I was unable to select any photos and written descriptions would always bring up errors. I have managed to sort some of the issues whilst trying to sort an unrelated Apple Pay issue I had (basically turns out my profile had an issue, setting up a new one sorted it).
Previously I had played around with my photo libraries but quite what I did is lost to the mists of time. The creation of a new profile and new system photo library, sorted the Image Playground. So one thing to check is that the your photo library is registering as a system library as I don’t believe mine was - there is an apple article ‘Designate a System Photo Library in Photos which walks you through the steps. I re-assigned my system photo library and could then see my photos (if you press option and then open your photo app you can choose which photo library you want to open, it should say in brackets after the name that it is the system library)
May not be a solution for everyone however mostly worked for me. Some photos coming up with an error ‘The operation couldn’t be completed. (CoreTransferable.TransferableSupportError error 0.)’ not sure how to resolve this but it doesn’t appear to happen on all photos.