Premiere pro 2025 Lagging

Hi all just a quick question regarding premiere pro 2025. I have a small project I am working on (about 7 min). Since yesterday the machine has been lagging incredibly to the point that I can’t work anymore. Anybody experiencing that?

I have a M1 Max, with 32 GB of RAM and a 2T internal drive with 400 GB free. I am working with proxies, have full quality playback turned off and on 1/4 resolution. Preview files are proRes LT. The performance is bad even without an external monitor. Have emptied cache but no difference. Any ideas??? Useful to mention that I am using a 3rd party audio plug-in called Crumplepop by Boris FX. Any advice would be greatly appreciated! This machine should be able to handle this 😞