Premiere Pro sudden slow down

Hi there! 

I'm using Premiere Pro on a very high end windows computer (RTX4090, i9 13900K, 64GB RAM). Suddenly, when I click the shortcut to cut everything in the clip before the playhead, it takes about 2-3 seconds before Premiere actually cuts. It seems to be faster after the initial cut has been made, only to happen again if I split the clip up in different section, and I've never experienced this issue before.

What's going on here? 

Any help is appreciated!