Same issue on my i5 late 2020 13 inch mbp.
If any low level Apple staffer is reading this, please elevate this issue.
Performance on my nearly $2000 machine is FVCKING PATHETIC. I didn't pay this much for my computer to operate like a 5 year old android from Huawei. I have resetted SMC, NVRAM, reset the computer, re installed macOS, etc all without any effect on the persistent lag.