From what I can tell between my own six month usage, and all the other posts detailing the same issues, this pretty much only applies to 10 bit 4:2:2 footage. Same issues on 2 different M1 Macbooks. I'm FED UP. The stuttering, the start/stop lag, the crashes, audio cracks, the lumetri color panel being almost completely broken and incorrect, auto white balance tool is broken, preview monitor is not accurate, leading to wildly inaccurate exports, "export frame" function captures frame with the proxy burned into them, even with the proxy turned off. There was a span of 2 months where we could not even EXPORT any clip, project, sequence that had any 4k 10 bit 4:2:2 footage without an insane line-skipping glitch that was well documented.
Is everyone at Adobe using 5 year old machines to test and debug this software? It is a NIGHTMARE on new Apple machines.
Give me an in person appointment at Adobe HQ and I'll gladly come in and show you all this insanity.
I'm also sad about Premiere's performance. I do not know what they are implementing there to speed up viewing, but it only gets worse. In the last update v.22.2, I began to slow down and think for a while when playing on the timeline. I have the same situation as you with media 4:2:2 only on the Win 11 system.