Premiere Pro 22.2 - Choppy and slow scaling and moving footage in Program window

[doogtoons]

Had to repost this with a proper title. Tested 22.2 on two Intel Macs running macOS 12.2, and got the same results:

Very Premiere is very choppy when scaling and moving footage in the Program window. Playback is fine, but moving footage around in 2D space is awfully slow. Once I downgraded back to 12.1.2, problem disappeared and moving and scaling is now buttery smooth again. Please fix this Adobe!

[doogtoons]

Also tested on my M1 Mac Mini, same issue above. Downgraded to 22.1.2 and problem was gone. Definitely an issue universally with the new update.