PS 21.0.2 Unbelievably Slow on 2017 iMac w/64GB of RAM

I have a 27" iMac 2017 with 64GB of RAM running the latest Catalina update w/PS version 21.0.2. Absolutely nothing on my system is slow or has spinning beach balls or crashes other than the latest update to PS. Prior to this latest update it ran smooth and everything happened instantaneously. I've turned off auto-updates because I just cannot trust Adobe to properly test new releases anymore. I've tried resetting preferences and re-installing and nothing helped. Heck, I even have 25GB of RAM alotted just for PS to use! Every single click on anything in PS gives me 10-30 seconds of spinning beach ball now, it's so bad I just won't even use it anymore until they fix it. If anyone has any ideas of what to try I'd really appreciate it! I'm not having any issues with any other Adobe products. I can run Lightroom Classic and CC simultaneously and bounce back and forth without a hitch! I used to be able to include PS in that but now, even with pretty much everything else closed PS is still just sluggish and slow.