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I am running an aged PC Windows 10 workstation but I have a processor with 6 cores, 8GB of RAM, and NVIDIA GEFORCE 940mx video card. Just a few weeks ago before the 2018 update everything was fine and PP was quite smooth.
Not too pleased with the latest update of Premiere Pro. It is so slow that it is practically unusable to me. Just trying to play my timeline with simple unmodified videos is not possible anymore as the lag is too much. I have cleared my cache, turned down playback resolution, and tried everything I can to at least make it usable but it is just too slow.
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Go into the Preferences and turn off all you dont need.
Also in sequence settings: composite in linear color, max bitdepth and max render quality.
Also check Hardware settings.
If that does nothing
uninstall, use cleanertool, and reinstall.
Hope that helps 🙂