So why did GE True fail? One word. Bonanza. CBS placed True on Sundays ahead of Candid Camera, as memory serves, and What's My Line?, but it was opposite the 2nd half of Bonanza. Ballgame over.
Webb would sell two more series to CBS in later years, but both of those series, O'Hara: US Treasury (1971), and Sam (with Mark Harmon) also lasted just 1 season, proving that Webb's greatest success was at NBC.
From October 1962, here's "V-Victor-5". The poster used a different title, presumably to throw the copyright police off track.
There were plenty of anthology shows on the air at the time, so maybe that also had something to do with the cancellation of this series. Oh, by the way, GE True used source material from True, a now-defunct magazine from Fawcett Publishing.