Bug in neural filters as smart filter: Photoshop continually hanging on crop tool

I have recently upgraded to a new Mac Mini M4 with 64gb of RAM. For some reason, certain files are causing Photoshop to hang (not responding) when executing tools that worked better on my aged Intel machine. In general I would say PS is behaving strangely in lots of minor ways since the upgrade. I have reinstalled photoshop, manually reset preferences. It may be that my preferences settings have cuased some of the problems.

The file in question in a pretty simple composite to which I haven't even started adding detail. It is currently made up of just six layers of objects and is showing as 125mb in size. PSB format, pixel dimensions are quite large 6404 x 6404px but I assume that is nothing this machine shouldn't be able to handle. When I select crop, it hangs for maybe 30 seconds and Activity Monitor shows Photoshop in red text, not reponding, using 125% of CPU. The issue seems independent of file size or layers, as I just opened an older project that is many times larger (file is around 3gb) and the crop tool takes effect with just a few seconds of delay. I also just created a new project of roughly comparable size by dragging in a bunch of JPGS. No issue with this file at all. Both files have every placed image as a smart object.

It appears that the issue is caused by the smart filters (neural filter, JPEG artifacts removal) on a single smart object ("levels 1" in file). I am surprised that this is enough to exhaust my system but perhaps I am missing something. The problem vanishes if I output the JPEG restore filter as a new layer as opposed to a smart filter. So either I have a bug, or this neural filter cannot be run efficiently as a smart filter

My system info attached, I can't attach a PSB as the file is too large.