There seem to be two complaints here, one is about a memory leak and the other about slow performance. I don't know that they are related.
The latest update has seemed to fix the memory leak issues I have been seeing. It is going to take days/weeks to be absolutely certain - a memory leak can be small in comparison to 16G of RAM so it can take a long time to run out.
A memory leak is when some piece of software, likely system software, is allocating memory that it never frees. Memory is allocated and freed constantly, it's a healthy thing. When it's not freed, the system thinks it's supposed to be allocated for good reason when it's not. The size of the allocated memory in system software tends to be small, like space to hold a string of characters. Application software can try to allocate huge sizes of memory, especially to hold an image or a video file (or a chunk of one).
If you think some app, like Final Cut Pro are leaking memory, simply close the app and see if the memory is not returned/freed. I wouldn't blame an app like that for using lots of memory while the application is in use.
The OS compresses memory when it's not in use. Like you have a chrome browser tab that you haven't looked at in a long time, it can be compressed to make more real memory for some other program(s) to use. When the system is truly out of real memory, it will start swapping memory from RAM to SSD. When a program isn't running, it's RAM can be copied to SSD and used for something else, and when the program is activated, the memory has to be read in from SSD (and something else written to make room).
If your machine is in constant out of memory mode, it will be constantly swapping, and that is going to make everything crawl. Nothing in the world worse than a machine that is swapping. When I set up a Linux workstation, I turn off swap altogether - if you run out of real memory, you need more memory :)
If your machine is simply sluggish all the time, even after a fresh boot with nothing running, then it's not a memory leak but something else wrong.
I have Docker Desktop installed on my system which uses a ~2GB linux virtual machine (qemu-system-aarch64). Otherwise, the memory usage by apps on my system (uptime 6+ days) looks really good.