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Steps to reproduce:
When I open a project, the CPU is overloaded for approx. 5-10 minutes.
The problem is not only in this version, but it is also more visible in larger projects and it is since you optimized the loading of materials at the beginning of the project.
Application: Premiere Pro (Beta) v126.96.36.199
OS: Windows v10.0.19042, RAM: 47.93 GB, CPUs (logical): 16
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