Premiere Pro is a very resource-demanding software. Here are a few ways you can improve the render speed. You can find all tips in this video
Update Premiere to CC23
Motion Graphics templates from After Effects now render 2x faster in Premiere Pro thanks to Multi-Frame Rendering. Depending on the template and your system you may see even more significant speed gains.
https://helpx.adobe.com/premiere-pro/using/whats-new/2023.html#faster-mogrt
