Image Capture hangs on importing photos between iPhone and MacBook Air

I have MacBook Air M1, 2020 512GB and iPhone 12Pro 512GB and my iPhone only have 40GB left so I'm trying to import my Photos to my MacBook to free up my iPhone storage. I have around 120,000 photos on my Phones and I've updated my MacBook to Sonoma 14.4.1 and iPhone to iOS 17.4.1.

After I've updated both my MacBook and iPhone, I can see Image Capture show my photos in the list view with thumbnail displayed for the photos at the top, but thumbnail does not get loaded after scrolling down further and grey box with photo date is shown so that is ok.

When I tried to import, it just show a grey box saying importing "....." with the photo name but usually it hangs there and I can see my MacBook showing the file with zero bytes on my Mac storage even though I leave it there for hours. I have tried safe mode and for only a few times it can successfully import a photo, but when I try to select an older photo to import and it just hang there when trying to import.

Please advise as my iPhone is almost out of storage and I don't want to use iCloud because I like to keep photos on my external hard disk. For the above import, I've given up to import directly to my external storage and selected a local folder on my MacBook Air but import still hang usually. I only successfully imported 5 photos from iPhone using Image Capture app by selecting one photo each time, but most of the time it just hang there even when selecting one photo to import. Thank you.