Jerky/Delayed Apple Trackpad Mouse Pointer

Hello. I am experiencing odd behavior with my Apple Trackpad (A1535). I am running a 2020 iMac with the latest OS. However, the issue started on my 2017 iMac. I use a Bluetooth Apple keyboard and Apple Trackpad. Everything was fine until one day it wasn't. Basically, if I use my trackpad while it is plugged in, there are no issues and things function as expected. However, if I use Bluetooth, the cursor is jerky/delayed. For instance, if I slide my finger across the trackpad there is a delay between my finger moving and the cursor on the screen. This makes it impossible to use in a meaningful way.

As some background, the problem first started on my 2017 iMac and I am unable to attribute it to anything I may have done on the computer. I recently upgraded to a 2020 iMac and the issue remains. I formatted the computer a few weeks ago and that appeared to solve the problem for a few hours and then it started again.

I've gone through this https://support.apple.com/en-us/HT203171 and https://support.apple.com/en-us/HT204621 by Apple and the only thing that seems possible is wireless interference, but I honestly don't know what could be interfering since the keyboard and trackpad are the only wireless devices anywhere near the computer.

I would appreciate any thoughts or guidance. I can certainly use the trackpad plugged in, but I bought it for its wireless functionality, so....

Thanks!