Even with a powerful Mac Pro crossfades not working well

When I'm editing videos in Premiere Pro 2020 (latest version V14.4), when having crossfades in between videos the editing monitor freezes the image at the crossfades and I can hear the sound continue and even typing space to pause it takes a while to stop. And with the specs I have I shouldn't experience any of those issues (see below). What am I missing or what's wrong with crossfades?

Specs:

Mac pro 2019

2.7GHZ 24 cores

96GB Ram memory

Afterburner card

AMD Radeon Pro vega 2 32GB x 2