I'm also seeing a similar behavior when trying to load the file representation using public.item UTI for Live Photos that were just taken or were selected and probably downloaded from icloud. If I try again the same images on a second or third time they seem to be loading just fine. If I use public.image it works just fine, note that it is on iOS 17 public beta.
Exception:
Error Domain=NSItemProviderErrorDomain Code=-1000 "Cannot load representation of type public.item" UserInfo={NSLocalizedDescription=Cannot load representation of type public.item, NSUnderlyingError=0x281b031e0 {Error Domain=NSCocoaErrorDomain Code=4097 "Couldn’t communicate with a helper application." UserInfo={NSUnderlyingError=0x281a32bb0 {Error Domain=NSCocoaErrorDomain Code=4097 "connection from pid 1217 on anonymousListener or serviceListener" UserInfo={NSDebugDescription=connection from pid 1217 on anonymousListener or serviceListener}}}}}