Premiere Pro 2020 freezes every time I try to import media into timeline or create a new sequence.

I have been using Premiere Pro CC 2020 for the past few months on my MacBook (2017) running Catalina. Just today I tried to create a new sequence using this button:

It immediately froze and I was unable to do anything in the app. I had to force quit. I also tried dragging and dropping videos from my Finder to the timeline and it froze. I tried again multiple times without success. I uninstalled and reinstalled the app multiple times and insured that I had the latest update.

I would greatly appreciate it if anybody could help me.