I've got a similar issue. I've got a new iPad and Pencil and the Apple Pencil works well with every other Adobe program except with Photoshop there is a bad lag with the paint brushes and the erasers, which is very frustrating. However there is No Lag when using my finger as a stylus.
Have you gave the opened file a moment? I know sometimes I have a lag initially, but I give it a moment and things catch up. How big of a file are you using? That may affect things, along with your wireless connection
Thanks for the reply. I was just about to post an update. I was using a generic stylus. I got the actual Apple pencil and its perfect now.
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i have same issue. the lag. also cant export without paying for pdf fees? procreate has better setup but used to photoshop layers to finsh work. this is frustrating and to be weaving in out of updates doesn't seem like a solution. when you commit to updates your blinded sighted to other items in that update that compromise work. solution appears to further understanding of procreate. and i pay the $20 a month for adobe app.