Hi,
at first, please check your clock settings. Your frame length 8usec (estimated from your waveform) doesn't correspond to the "Baudrate 500000". I would expect frame rate 16usec/frame for 8 bit frame. "Source clock 16000000" needs to be manually synchronized with your settings in Peripheral clock view in S32DS.
Next item, there is no PCS settings in SDK. So, it needs to be manually setup by LPSPI_DRV_MasterSetDelay

Personally, I prefer working PCS. It might show settings issues.
Best regards,
Pavel