Play Back Laggy on Mac Mini M2

I'm having the same issue - choppy play back and dropped frames on a16" macbook pro with 92gb of ram, 

just trying to cut 720p footage - Adobe this is NOT good enough -your service isn't cheap yet I'm constantly having to fix something - it actually ends up costing a lot more due to lost time and fixing fundemental issues with your software time to take a leaf out of Black magic's book and re-design premiere so people can actually use it to make a living out of using your software.

I fixed it in my case. My second monitor was connected using HDMI to HDMI. I changed it to a Thunderbolt to HDMI cable, and the sluggishness is fixed. Even though the second monitor was not actually being used. Obviously the HDMI was taxing the graphics capability of the Mac Mini M2 Pro.

I found the opposite, that I had jerky playback unless I did go into full screen mode.

Same issue when it wasnt an issue as of last week. Come on Adobe lets get your tech working in something other than child's play mode. Some of us have to work for a living using your stuff.

Exact same issue here, but with an M2 Ultra Studio.
Resizing the Premiere workspace window smaller than my desktop fixed it immediately. Thank you for hte suggestion. I hope Adobe fix this strange bug. 

It worked! Thanks for the tip!  I resized my main screen as you suggested and playback is smooth again; while running two monitors. Something is clearly broken or at least buggy in thier code. I'm hoping Adobe adresses this ASAP. Not being able to run two screens at thier full screen size is criminal, let alone a basic functionality of an NLE. 

I'm having the same issue as you @distinctit. M2 Mac Mini Pro (base model). Running PP 22.6.2. I have two older Dell 24" monitors connected via Mini Display Port (single cable / no adaptors) and working primamrly with ProRes LT and 422 footage (Multicam and Single clips). For three days everything was fine, then suddenly major and minor lag issues with playback from the timeline. I thought it was the read speed on my external HD, so I connected a OWC Raid to it and still having this issue. Swapped ports, ran Premiere in Rosetta, even ended up hooking the second monitor up via HDMI - all still presented lag in playback, The only time this issue is resolved is when I only have one monitor connected to the machine. I'm struggling to understand why this is happening. Can't upgrade to 23 yet becasue of some compatability issues with the rest of my team but I"m going to assume that's the version you were on.  Hope Adobe adresses this....