Premier Rush Bogging Down on Brand New Mac Studio M2 Ultra

I have been using Rush for a few years now and I recently upgraded to a very fast (supposedly) Mac Studio M2 Ultra.  I have been editing on an amazing Mac Pro from 2013.  I know. BUT I had loaded it with 128gb of ram and I felt like I could open the entire internet on there and it would just hum along.  It became time to move along only when the Pro's chip wasn't compatible with all the new Adobe and other updates based on Apple silicon.  The Studio only has 64gb of ram, but based on all the reviews I read I thought that it would be able to handle my fairly fairly simple stuff with half its processors tied behind its back. (I also use Rush on my Macbook Air with an M2 chip and it works perfectly.)  

Running Rush on this machine is terrible.  The video barely plays. There is a huge lag inputing type into a graphic.  It's ridculous in pretty much every way.  Has almost doubled my editing time.  It does however, render OK after all the hassle.

I have seen on the Premier Pro boards that people have had to use an older version of the software to make their Studio M2 Ultras run the program correctly.  Is there a similar situation for Rush?  What else can I do about this? It's completely unworkable as it is.  

PS--I am running three displays, but I was doing that on the older machine as well.  I just transferred everything over from the old computer via a time machine backup.

Thanks