On hitting stop the audio will play back fine right away, and edge editing the newly recorded soundbite will work.
Its waveform draw, however, will not appear on screen for 10-60 seconds. Sometimes the waveform displays during recording, or right after, as would normally be expected. Either way, the following still happens-
Changes to the soundbite's gain won't stick for maybe 30 seconds. I can open the "Set Bite Gain" dialog and hit enter but no changes happen and the action is not entered into undo history. Same with fades.
If the recording is a short snippet, like just a few fill in notes, I'll often have to wait LONGER than the length of the recording before I can do a quick adjustment and move on. So I'll wait 30 seconds for a 5 second snippet to finish whatever mystery processing is happening behind the scenes.
During this wait there is no activity in the Background Processing window.
"Wait until DSP Analysis is needed" is on, as is "Play the old, unprocessed soundbites".
"Automatically analyze beats and tempo" is off.
"Always record pre-roll" and "Enable Retrospective Audio Record" are on, but it almost never works 100% anymore. I have a thread or two about that here

At some point the soundbite kind of flashes as if its processing has been completed. The waveform comes into view if it hasn't, and from this point gain changes are allowed as normal. Occasionally it never comes around and I lose the take.
It doesn't seem to be correlated to the length of the recording.
DP 11.31
macOS 12.7.6
Mac Studio M1 Max
24GB RAM
Anyone know why this may be happening?