Apple Silicon and 23.5 Media Freezing / Unstable

We have multiple machines running the newsest version of Premiere (both Intel and M1 and M2 chips).  The Intel machines are behaving fine, but the Apple Silicon machines are having issues when importing or opening sequences from older projects. You can scrub through the timeline,  but video remains frozen with no audio... ultimately Premiere may crash when it enters this state. This may have been an issue with 23.4 as well. Again, the Intel version seems to be running perfectly under the same conditions. Rolling back to 23.1 on the Apple Silicon machines seems to fix the issue.