See attached screen shot. This has started to occur in the latest PP or MacOS release (both have updated recently).
I'm also getting other sundry oddness like freezing during play in the timeline (even on proxy files).
(PS: does PP have a "System Info" function like LR Classic?)
PP: 23.2.0 (Build 69)
Model Name: MacBook Pro
Model Identifier: MacBookPro18,4
Model Number: Z15H000UBX/A
Chip: Apple M1 Max
Total Number of Cores: 10 (8 performance and 2 efficiency)
Memory: 64 GB
System Firmware Version: 8419.80.7
OS Loader Version: 8419.80.7