Slow to open files in CD 2024

Recently upgraded to CD 2024 - (Ver. 25.0.0.230-March 2024 Release), and my CD files are taking 3-5 MINUTES to load.  WHY???
Of course, I thought the software was converting the older CD format to the 2024 format in the background, but even after files open and I work on them (and, save them to the new file format), they still take WAY TOO LONG to re-open.

What's going on?