Severe lag when interacting with objects, chests, accessing inventory, and loading chunks

After updating to 1.21.50, I open a chest and nothing happens. If I wait a VERY long time , the UI might open, but often times does not.  I attached a picture of a chest showing stuck in the open position after UI failed to load. Trying to open my inventory also does nothing, the game behaves as if I didn't. If I open a door, enter it, and then close,  it doesn't register the door was closed and the door shows open again. Chunks are not loading or taking a long time to load, Status effects from beacon were not working, or displaying in the upper right corner. Both are pictured as well. I was not having these issues prior to the update.

As a side note I did back up my save,  uninstall Minecraft and reinstall it and this did not help.

 

How to Reproduce:

1. Join this world (available at https://www.dropbox.com/scl/fo/0jsdf8zol8glj3isljuqj/ALTC2CS9FWG_nSqgY7_aIOQ?rlkey=7hku0g1h4rd27jtb1jzd65icm&st=fyhgzyzc&dl=0)
2. Go towards 118, 70, -118 (that's as far as I could go before chunks stopped loading) towards the house and enter the house when chunks load.
3. Continuously attempt to open and close chest, barrel, or shulker box.

Observed Results:
Chest, barrel, and shulkerbox opening is delayed or just not working at all,  as is mob movement in the area. Also breaking of blocks does not work. Breaking a block results in the block disappearing with no sound or animation. After a minute or so the block reappears in its original position.

Expected Results:
Chest should not be delayed, mobs should not be frozen, and block breaking should be normal behavior as it was prior to update.

**UPDATE**

After updating to 1.21.60 my issue has been fixed.