Updating captions causes the project to lag for 3-8 seconds.

Exactly as the title says. I made a transcript for the video and converted it to captions. That means that I have to occasionally edit the caption to make sure that it's correct. When I have to do so, as soon as I make the edit and try to click off of it, the entire project freezes for up to 8 seconds, making it extremely tedious to edit a 30 minute long video.

Yes, I have cleared my media cache. Yes, I have turned off hardware acceleration. I've also turned the video preview to 1/4, turned off fx (there are only fades in and out on 4 items), and even tried hiding layers. It doesn't seem to be an issue with rendering the preview.

This is only a recent issue. I'm using a template that I've used for several other projects in the past and I never had an issue with lag while editng captions on similar length videos.