“Photoshop and LightRoom running slow on my MacBook Pro 2019 16" than MacBook Air M1”
This is most likely the root of your problem.
Firstly the hardware differences between the 2 macs will always make your Mac slower in like-for-like operation. There is no getting away from this fact. Secondly an Air (regardless of processor variant) is a poor choice for a work computer when using Photoshop. Not familiar with Lightroom so can’t comment.
Obviously - depending on your budget - you buy the most powerful/highest spec computer you can depending on the work you want to use it for and this may be the case with you. If you can afford it perhaps you should think about changing your laptop for something newer and more powerful. Any M3 Mac with as much RAM you can afford installed. Hard drive need not be that large 512GB is enough. Just make sure you have enough cash left over for multiple (at least 3) external drives for backup and storage available.
What you fail to mention is what other programs have you installed? If all you have is Photoshop and Lightroom and the stock macOS then it really is the difference between the 2 laptops that’s making yours seem “slow”. If you have installed any software that claims to speed up/protect/clean/defend etc your Mac then get rid of them asap as all they will do is slow your Mac down and nothing else.
Good luck