Hi @Rob217717683hsl,
Thank you for reporting this issue. Would you mind providing your system specs? A screen recording of the behavior would be helpful as well.
It's possible this is due to a large number of effects or presets being loaded. If you choose "Finder Folders" from the hamburger menu in the Effects & Presets panel, what folders are shown?
Thanks for reporting this issue and for any further information you can provide,
- John, After Effects Engineering Team