Popping and cracking noise while playing timeline with video effects

Steps to reproduce:
    1. Create a timeline containing at least one audio track from an uncompressed source and at least three video tracks (one AVC source video, one adjustment layer, one image).

    2. Apply some effect to the adjustment layer and create keyframes to adjust some parameter over time (for example, linear keyframe Gaussian Blur Blurriness from 0 to 100 in 30 frames).

    3. Apply default crossfades to the image placed over the keyframed adjustment layer.

    4. Play the timeline segment containing the created stack of layers at whatever playback resolution the machine can handle playing back smoothly at.
 
Result: Smooth video playback, but loud popping and crackling sounds can be heard during the time of the adjustment layer keyframes.
Expected: Smooth video and audio playback.
 
System info
    Application: Premiere Pro (Beta) v24.6.0.75
    OS: macOS v14.5.0, RAM: 16.00 GB GB, CPUs (logical): 8