New design student and regret buying an Apple M1 greatly, but stuck with it. The Apple Authorized Dealer in Asheville, NC said it was the latest and greatest after me being disappointed my 2011 MacBook Pro couldn't be upgraded. Saved me around $1,300 from what I was going to buy online. Regretted it within 30 minutes of purchase. Unopened, they would not take it back. But Apple said yesterday to install "a patch called Rosetta" to help with lock up on Adobe Photoshop and Illustrator."
I am not sure she knew what she is talking about after looking at the same issues you are having. The Apple processor isn't transparent with Adobe platforms from what I am reading and Adode is working on their end. Apple is going to be using their processor from now on. Word to the wise, never, ever buy these "Mac M1s or Airs. Total dogs." They can't be upgraded on memory or anything.
I don't know what Apple actually, said, but Rosetta isn't a patch. It's a built-in part of Big Sur, for everyone. It lets most, but not all, older apps still run on the new chips. Apple try to help but they know NOTHING about Adobe apps, whether they lock down or how to fix them. You need to ask Adobe, or people who know Adobe apps.