AE very slow/freezing when working with photoshop layers

This issue has been going on for months, maybe over a year. It happens both on Windows and MacOS.

Using shortcuts to open properties on photoshop layer freezes up AE for ~10-15 seconds.

It only happens when doing it 1st time. Consecutive use of shortcuts on the same layer does not freeze up AE. But then using the shortcuts on another psd layer freezes up again.

Test PSD file is <150mb, 1080p. Flattened to 3 layers and I still can't figure out why it keeps freezing up AE. 

https://drive.google.com/file/d/1aDZev3mzehvxb56ID7PP6nyrpDawXbj4/view?usp=sharing

It does not matter how the file is imported. Retain layer size, composition, merge styles or not... Always the same.

System info (but doesnt matter if it also happens on Macs):
OS: Windows 10 Enterprise 10.0.18363

CPU: AMD Ryzen Threadripper 2920X
RAM: 64GB

GPU: RTX 2070 Super

Drivers: 442.92 Studio drivers