M4 has an actor named "eyeBrow" (as does V4), and by default its material is set to be transparent. In P5 transparent materials are represented by dots, and this is what can be seen in the image you posted. In the original M4 cr2 the "eyeBrow" actor has its Visibility attribute turned off in its Preferences. Somehow it seems that the visibility has been turned on for the eyeBrow actor  in your copy of M4.