All Adobe CC Apps are slow on M2 Ultra Mac Studio

Illustrator, Photoshop, After Effects, and Premiere Pro are all having slow performance on my new M2 Ultra Mac Studio with 64GB of RAM. Illustrator and After Effects are especially bad. Usually takes a half a second to five seconds for any inputs to register in Illustrator. These apps all still work perfectly fine on our older M1 Mac Studio. They're basically useless on the new machine. Already tried removing old preferences, reinstalling all of the Adobe apps, and using the older 2023 versions. All have the same problem. No other issues with the computer though, just issues with Adobe.