Transitions playback issue on i9 12900K / 32GB DDR 5 / 1TB Nvme / Premiere Pro 2023

Hi,

Anyone please help me resolve the issue with premiere pro 23.0 and 23.1 beta both having playback issues when playing clips with any transitions (tried premiere pro's default and others).

My System Config are:
i9 12th Gen
32GB DDR5 RAM
1TB Samsung NVME 7GB/sec

OS: Windows 11

Nvidia 3060Ti 3Fan
----
Clips Details
Straight from Camera - Sony A7 IV
H264/HEVC 4K 60fps - mainly
Also tried H264/HEVC 4K 30fps

Also tried H265/HEVC 4K 60fps

Also tried H265/HEVC 4K 30fps

properties, copied:
========
File Path: C:\Users\xxx\Videos\C2762.MP4
Type: MPEG Movie
File Size: 3.09 GB
Image Size: 3840 x 2160
Frame Rate: 59.94
Source Audio Format: 48000 Hz - 16-bit - Stereo
Project Audio Format: 48000 Hz - 32 bit floating point - Stereo
Total Duration: 00;02;07;38
Pixel Aspect Ratio: 1.0
Alpha: None
Color Space: Rec. 709
Color Space Override: Off
Input LUT: None
Video Codec Type: MP4/MOV H.264 10 bit 4:2:2
=======

Clips are playing well on Full quality even with lumetri colors applied on. But when comes to basic transitions, getting that choppy and laggy playback. I need to stop playback and re play after few seconds to play rest smoothly.

I tried playing these raw 4 times on single frames and got perfect playback but just getting issue when applying basic transition. 

I noticed when i have a less than a min clip, in start transition works well but then even re playing starts lagging.

I applied these troubleshoot already which didn't worked out:

- Changed scrach disks to /C (NVME)
- Changed Hardware-accelration to Nvidia then Intel then both and did restarted system while made changes
- Copied clip file to /c and then tried with new project

-Turned off global FX

Waiting for the fix guide by some professionals. .