Illustrator 28.0 running very slow on M1 Max chip

With the new update, Illustrator 28.0 on MacOS Ventura 13.6.1 working with vectors is a pain. 

When moving, scaling, pasting, or working with any vector object the loading wheel appears and it takes like 3 sec to load and make the action. It is practically unusable, just like working on a Pentium 1 computer. Even in outline mode it lags.

Before the latest update, it just flew 😞  Please do something about it!