I updated to PP 2026 and upgraded my previous 2025 project to the new year version. Now PP is basically unusable it's awful. Constant rainbow wheel and frozen every other click.

I updated to PP 2026 and upgraded my previous 2025 project to the new year version. Now PP is basically unusable it's awful. Constant rainbow wheel and frozen every other click. I literally can not use anything and now I cannot access my project file in the old 2025 version which works perfectly since I already upgraded the project file and their not backwards compatible and Adobe has no tool for this and the 3rd party tools that do exist are not working to convert the 26 file to 25. I need help on this ASAP I have the fully maxed out M4 Max laptop and editing the best SSD's you can buy so its not a hardware issue, its once again as always an Adobe issue, If this does not get resolved I am canceling my years of membership tomorrow and switching to DaVinci for good. Thank you