Premiere overloading memory, slow playback, freezes on cuts and very slow effects with nested videos

23.4.0 Version

MACos Ventura 13.5

M2 Macbook Air, 16GB

Editing with nested video from my a7 has been a huge problem. After premeire tells me to nest content, all of premeiere slows down. Playing back 1080/30 footage at 1/4 quality where jnormally can do full 4k/60. Cutting content and reshuffling content in the timeline results in 10/20 second freezes in the timeline until it loads every time, with use of the warp stabilizer taking almost an hour for a 1 minute clip. MACos is constantly giving me warnings for running out of application memory and saving the project takes a long time. What could be wrong, its extremely annoying.