I've never experienced this before, but my Premiere is refusing to let me edit any subtitles in the program monitor whilst the subtitles are 'captions' (not graphics yet and not just in the transcript). Editing in the 'Transcript' section also does nothing which is very frustrating. As for the Captions section in the Text panel, it's letting me edit but Captions is so chaotic to use anyway so I can't use that method.
My Premiere is up to date (25.6.2) and I'm on an Apple M3 Max, 48GB, using Sequoia 15.3.2
Most of my work requires me to edit subtitles so this is getting very frustrating.