Open a project in Premiere Elements 2022 takes a very long time in comparision to 2020

      Can you please provide your project settings details (Aspect ratio, timebase, display format etc) and project size.

Are you opening the project you created in versino 2020 with version 2022? That could be the problem. Premiere Elements has never been completely backwards compatible, and opening a project created with an older version of the program can cause buggy behavior and even corruption.

Granted, that makes an apples to apples comparison much harder. But make sure both your new 2020 project and your new 2022 project use the same media -- and that they were both created in the programs you're opening them in.

Though I too have found version 2022 a bit sluggish compared to earlier versions. Slower to import media and slower to open. But not terribly so.