Premiere Pro UI Lagging

This has been happening more and more over the last few months. The Premiere *interface* (not playback) has become unusable with input lag. For example, when hovering over the ends of a clip to trim them, it can take anywhere from half a second to three full seconds before the cursor changes to the trim tool. This same thing happens when trying to drag clips around the timeline or doing things like dragging clips from one timeline to another. Even something as simple as clicking a clip can take several seconds just for the clip to become highlighted! 

I've tried every solution I've seen posted on these forums, reddit, youtube, etc including cleaning cache, resetting the workspace, setting audio input to none, clean installing the program, updating GPU drivers, etc. I'm working with mostly .MXL files but started to notice these issues with .mp4 as well. I'm on a Windows 11 machine using Premiere 25.3.0 and will note specs below: 

12th Gen Intel(R) Core(TM) i9-12900K
NVIDIA GeForce RTX 4070 12gb
64GB DDR4 2666 MT/s RAM
2TB M.2 SSD

I've also attached a screen recording of the problem. You can see how long it takes for the timelines to switch and the delays in simply trimming a clip. Is anyone having this debilitating issue? Any help here would be GREATLY appreciated!