I built a new VM using Windows 10 March Update ISO and opened an EMF file without issues.
I downloaded the April update and installed manually.
https://www.catalog.update.microsoft.com/Search.aspx?q=KB5001330
I confirmed as stated the EMF opened but the color lines were missing.
I downloaded and installed the June update KB5003690, and the issue was resolved.
https://www.catalog.update.microsoft.com/Search.aspx?q=KB5003690
Updating the systems with the latest monthly updated should take care of the problem.