Adobe Premiere Pro extremely underwhelming performance on XPS 13

I am sorry to tell you this, but you bought the wrong XPS model. You see, none of the 13-inch XPS models offer a discrete GPU at all. Only the integrated Intel graphics is offered. And no integrated on-CPU GPU delivers anywhere close to the same level of performance as even a mediocre budget discrete GPU. Worst of all, all integrated graphics steal a lot of system RAM for itself, leaving you with a lot less system RAM available for programs than you would have expected.

And as for the XPS 13 9300, it is an older model that dates from mid-2020. As such, it is equipped with only a 10th-Gen Intel Ice Lake-U quad-core CPU that, frankly speaking, has neither the IPC nor the sustainable clock speed to work well at all with video editing. If you must have a 4-core/8-thread low-power CPU-powered laptop, you should have gotten a newer version of that model which comes with a newer 11th-Gen Intel Tiger Lake-U CPU.

And had you run the PugetBench for Premiere Pro benchmark, you will find that it would have scored no better overall than an old 4th-Gen laptop or desktop that's equipped with a lower-end discrete GPU that was typical for its eight-year-old vintage.