Others have brought this up and I can't see any solutions except to wait for a release that makes Premiere Pro v24.x not hang on every command with the spinning disc. I not only have all the symptoms others have stated but I also have this weird audio problem whereby the audio track is silent on repeated tries to playback. Then it just works. And then it fails again. For a while.
The one indication I can see in the lagging performence behavior of 24.1 appears to relate to other interconnected features being automatically engaged. Text transcription, for example, might send the CPU off to think a bit before that minor audio cut/edit is completed many seconds later. All functions appear to be waiting for something before proceeding with whatever that step entails. I do find that this behavoir worsens over time and that if the app is restarted frequently, the amount of waiting is diminished but grows again. Somewhere there is a bug causing anything and everything in Premiere Pro to wait. Every step. And I suspect new AI features may be part of the problem, with their CPU/GPU intensive demands for even the most innoccuous of tasks.
Grr. Please fix this ASAP. Top priority, please!
Tom