According to the picture, you have a problems with connection of line switching pins A-E, most probably with C. It might be a loose connections, a bad soldering on the Raspberry or on the LED panel, or an issue with a cable.
Try to change the board, panel and cable if you have another ones.
Thats’s a good point. I’ll swap the raspberry to another one. I tested the panel with an esp and that works without a problem. So the panel itself should be good.
you are indeed missing an address line (I originally said E but it could be C). Check your connection board and make sure all 5 address pins are connected