After Effects 2020 RAM preview and other issues

Hey y'all! I just got a new Macbook Air M2 and i decided to start using After Effects. However, when I try to add plugins like Twixtor to my clips and try to preview the clip with the plugin implemented, it takes forever for it to process and reproduce it. I tried purging my cache, increasing the RAM capacity, etc. It is getting so bad to the point where if I try to preview a clip without twixtor or any plugin for that matter, the clip will loop instead of previewing the whole composition itself. For reference, I am using After Effects 2020 as I was told this was the most compatible version with mac. Please help!