I just did some testing and invested more time since this issue essentially makes us unable to do any work anyways. You cannot cull pictures when you need to wait more than a second after you press any key.
Turns out:
The issue must be related to a second screen. PM performs as before only when BOTH its windows are on the MacBook's OWN display. No influence if a second screen is connected or not. Though once EITHER of the PM windows are moved over to the external screen, performance gets immediately 50x worse. Move both the the external screen and performance gets 200x worse.
In the past year or so I was used to absolutely unusable performance in the preview window as long as the thumbnails were displayed in a large window on an external screen in the background of the preview window for a long time now. Making the thumbnail window tiny in the background so that it only showed a few pictures before hitting the space button was a workaround I had to use. But now it's bad performance always on the external screen.
Camera Bits: That might be the reason you were not able to reproduce the issue when another user complained about the speed issue on Venture a whole month ago! You there wrote that your only Ventura test machine seems to be a MacBook Pro. I assume you have no external screen connected or you did never use it to test PM.
Please, everyone else – try to work around it in the meantime by using PM only on your MacBook's own screen and let them know if that fixes it. No idea about the Studio Mac though.