How do I resolve Final Cut Pro X spinning wheel of death and slow plugin scan on a new Mac Studio?

I just bought a brand new Mac Studio, 16 core M4 Max, 128 GB RAM, and curiously, I'm having a couple of new problems in FCPX that I wasn't having before. First off, the AU plugin scan at startup is taking a really, really long time, and it seems to frequently get stuck on one plugin (never the same plugin twice), so I end up having to force quit. So I had to start moving all my AUs out of the Components folder whenever I use FCPX. And keep in mind that these are AUs that work fine in Ableton Live, Studio One, Luna, etc.

But the main issue I'm having is that once ever hour or so, FCPX will get into this state where I suddenly can't start playback, because every time I hit play, I get the spinning wheel of death. When this happens, quitting and restarting FCPX is not enough; I have to actually restart my computer to make it work again. I'm wondering if maybe this is being caused by some detritus from my old data that I migrated from my previous Mac. I did try holding down option when launching FCPX to clear all my prefs, but it didn't help.

Also, just a side note -- from the way this Mac Studio was described on the Apple website, I really thought that the FCPX render times would be so fast now that I wouldn't even notice them, particularly since I'm currently working on a project that's in SD, 720 by 480. But I don't know -- the render times don't really seem that much faster than on my 11-year-old Intel MacPro. I will say though, that I am seeing big improvements in other Apps. Like Motion, for example, performs beautifully now.

[Re-Titled by Moderator]