Latest version has degraded painting/stroke performance massively

The lastest version, as per title, now gives me the teal loading bar after almost every stroke I make in my file.

This however only applies to NEW files created from the new version. If I open a file made in a previous version and instead import my mesh/bake and paint in there, the performance is much better.

Clearly something got broke, you guys need to fix. Out of the gate it just seems like the performance tanked for no real reason.