Final Cut Pro V.10.6.7 (Mac M1 Pro 1TB) is terribly slow after the latest updates, often freezes

I have the same issue as the OP, running an M1 Max with 32GB RAM. Thing is if I export the events and library they won't work with the old version now they've been updated to work with the new one? Also not hugely comfortable using time machine to try and revert to a previous version of FCPX. Really unhappy an update like this was released with the potential to cause such big problems.

Final Cut Pro 10.6.7 has been released, and whilst there have been some users that have reported zero issues, there's many professionals that are reporting lots of unexpected bugs and crashes.

Dylan Bates - The Final Cut Bro has posted a video here explaining.

There currently doesn't seem to be any common thread - people on Apple Silicon, Intel, Monterey, Ventura, etc. are all reporting different problems across all areas of the application - from Viewer going black to full system shutdowns.

For now, I would strongly suggest you stick with Final Cut Pro 10.6.5 or Final Cut Pro 10.6.6 until Apple resolves these issues in a future update.

We are keeping track of the bug reports here, in our Bug Tracker. We've reported several bugs directly to Apple.

I've personally been pushing Final Cut Pro 10.6.7 pretty hard since it's release on a new, big and complex timeline, with heaps of Motion Templates, effects, stills and random footage. I've had to restart it a few times due to the Viewer going black, or strobing, and so far I've had a few crashes.

Additionally, Final Cut Pro 10.6.7 (for Mac) uses a newer Library format than Final Cut Pro 1.1 (for iPad).

This means that if you want to use Transfer Toolbox to go from Mac to iPad, you should keep using Final Cut Pro 10.6.6 (for Mac).

i got in touch with Apple and they were very helpful (my laptop is still under a year old). Embarrassingly it was totally my fault. I was convinced the operating system was up to date but I was actually on a later version. Updating it sorted most of the glitches. Like others I still get black screen in the play window every now and again but all the slow performance and general freezing was sorted.

If you have a backup to 10.6.6, export XMLs of your events and your library and revert to the prior version.

Export XML in a version compatible with 10.6.6. I think that would be XML version 1.10.

Same issue with similar specs. Look forward to a solution