Text-Input lagging and unresponsive.

When I try and edit/create text layers, the text input is painfully slow. I will type, and nothing will appear in the text box, or in the text layer in the composition panel. So it is not receiving the input for some reason. Text in Premiere works completely normal. Is this a bug? 

I have tried the "reset character" fix from other posts, and this doesn't work. It's definitely an issue with the actual input/reception of text information. 

Mac Studio Ultra

128GB RAM 

AE 22.5.0