Directly after installing the PhotoShop 22.2 update I activated the new preset-sync option. The first sync completed successfully.
A little bit later, without working in PhotoShop and no open images, my system reported to be short on available RAM. On my MacBook Pro with 16GB RAM activity monitor reported, that PS ist was using 120GB!! RAM. The only solution was to kill PS.
Subsequent attempts to deactivate the preset-sync failed with a crash. It didn’t matter whether I chose to keep or delete the synced presets. Meanwhile PS continued to consume more than the available RAM.
Had to revert to PS 22.1.2, but have major concerns because the 22.2 Update contains security relevant fixes.