Poor Multicam Performance with Premiere Pro 23.2

PP 23.2 is still struggling with multicam editing. 23.0 worked well with 3 streams of 4K footage. 23.2 is hanging, crashing, and struggling with 2 streams of 1080/60. After a few camera changes the system will play back smoothly, but the playhead and audio meters start to jutter and freeze, and changing the active camera can take 1-5 seconds (foricing each edit to be manaully adjusted). After 20 or so camera changes PP continues to playback smoothly, but the interface freezes. I will play video smoothly for 30+ minutes while the program is unresponsive.

I have emptied the cache, reset preferences, disabled audio input, and none of these have made a difference. This project uses only about 40% of CPU/GPU resources, so it is not a system peformance issue.

Restarting PP solves the issue for the first few camera cuts, then the entire process repeats.

Mod note: Title was changed to reflect the issu.