Extreme Lag - Lost items to lag-induced suffocation death

• Playing Minecraft Bedrock Edition version 1.18 with a cross-platform friend on a multiplayer survival world she had created.
• I play on the PlayStation 5, she plays on the switch.
• Lag has always been a thing present in the world but has gotten extreme after the 1.18 update.
• I had gone to the Nether to collect soul sand and experienced some standard lag, being able to break blocks but not pick up any items.
• Attempted to return to the Overworld with little success. Was repeatedly teleported between Nether and Overworld, eventually returning to the Overworld where I suddenly began suffocating in open air.
• Crouched somewhat near a wall (not directly on it, I'd say approximately 4 blocks out from any wall) and proceeded to die. All things (including fully enchanted Netherite Armor Set/Tools) immediately despawned. A thorough check through the surrounding area, walls, blocks above walls, and Nether yielded no results.
• I am quite frustrated with the lag spikes and would like to know what exactly has occurred with all of my items despawning and how I may combat this issue in the future (death prevention at signs of lag).      
• Thank you,
  Harrison Helms