Thanks for your reply. Yes, apps and OS are on SSD. I just did an experiment though and tried adding a JPG file from the SSD to an AE project, and had the same slowdown. As for the “hourglass,” it’s not an hourglass per se, but the “wait” mouse cursor that we old-timers call an hourglass. For the first 5 seconds, it’s a normal mouse pointer, then it turns into the swirling circle indicating “wait.”
That slight pause you’re experiencing, would you consider that normal? I don’t remember having to wait at all on previous setups and older AE versions.