On MacOS, you can normally navigate through text one word at a time by holding option and pressing the left and right arrow keys. This functionality is broken in the latest version of Premiere Pro (25.4). It still works fine in all other apps, and it worked in all previous versions of PP, so this is definitely an issue with the latest version of PP.
For example, when editing the name of a sequence, I can't jump between words by holding option and pressing the left and right arrow keys.
Edit 1: This only seems to affect the Project panel and bins. I can use Option + Arrow keys in other areas of PP, such as transcripts in the Text panel.