Lag when using type tool, text takes multiple seconds to appear after typing

As in the title, the type tool lags on documents after they are open for more than a few minutes. When I type in a text box, it takes 4-5 seconds before populating the typed text into the text box regardless of the number of characters. The longer I type, the longer it takes for the text to appear.

Before anyone recommends turning outline mode on, switching performace modes, or hiding layers to improve performance: I have tried. The current document is only 3.903kb, so the file size is not the issue either.

I have not had this issue up until the last couple versions. I am currently updated to v 26.3.1.