Premiere Pro Not Opening and Lagging

Hey, hope all is good,

Step by Step Troubleshooting Guide:
Clear Preferences and Cache:
Close Adobe Premiere Pro completely.
Hold down the Shift key on your keyboard and launch Premiere Pro again. This resets preferences to default settings.
Additionally, clear the media cache by going to Edit > Preferences > Media Cache. Click on Clean to remove cached files.
Unpin Premiere Pro from Taskbar:
Right click on the Premiere Pro icon in your taskbar.
Choose "Unpin from taskbar" to remove the existing shortcut.
Launch Premiere Pro from Creative Cloud:
Pin Premiere Pro to Taskbar Again:
After successfully launching Premiere Pro from Creative Cloud:
Right-click on the Premiere Pro icon in the taskbar (it may appear as an active app icon).
Choose "Pin to taskbar" to add Premiere Pro back to your taskbar for easy access.
Verify Storage Space and Hardware:
Ensure your laptop has sufficient free storage space where Premiere Pro is installed.
Check your laptop's hardware specifications (CPU, RAM, GPU) to ensure they meet the minimum requirements for running Premiere Pro smoothly.
Monitor Performance and Project Settings:
While Premiere Pro is running, monitor your laptop's performance using Task Manager (Windows) or Activity Monitor (Mac) to identify any resource issues.
Review your project settings, including sequence settings, footage codec, and resolution, to ensure they are optimized for your hardware capabilities, you can share them with us to make sure of that.

Additional Tips:
Consider working with lower resolution or proxy files to improve playback performance, especially if working with high-resolution footage.
Update your GPU drivers to the latest version for better compatibility with Premiere Pro.
Follow Up:
Please provide more details about your hardware specifications and project settings , raw footage metadata. This information will help diagnose the problem more accurately and find additional solutions.