The world is freezing

The world is freezing in the latest preview if you set a high render distance. Block breaking feature is broken and no entities are spawning. 

Steps to reproduce:

1.Set a very high render distance(about 96 chunks)

2.Use elytra to fly around and see if the world is freezing.

Expected result:

The world is not freezing.

Observed result:

The world is freezing.