Latest update.
This is a known issue. The fix is not present in any available release, but now that it's fixed it should show up soon in an upcoming Catalyst beta.
WORKAROUND:
The workaround is "Rename amf-wic-jpeg-decoder32.dll and amf-wic-jpeg-decoder64.dll (directory: C:\Program Files\Common Files\ATI Technologies\Multimedia)".
It doesn't matter what you choose for a new name for the files. What this will do is break the connection to the problematic files and the system will revert to the default Windows decoder.