There’s another similar topic for Windows 10. I’m on Sonoma with a Mac Studio, Sonoma, M2 Max, 32 GB of RAM and the IDE takes over a minute to get to the recent projects dialog box. Actually opening an existing project takes minutes longer and I often have to force quit the app.
I had similar issues a while ago. It turned out by TimeMachine backup to a TimeCapsule was causing issues. Such problems can also be caused by antivirus software. Try disabling both and testing?
some projects on a removable volume that is not online anymore ?
find which one and delete them from the recent projects list (by right-clic on it)
Time Machine isn’t running and there are no external drives or networked volumes being accessed (not even an iCloud or Dropbox folder) for these projects. And there is no anti-virus software running.
Everything was perfectly fine yesterday. I updated to R3 today and now it’s taking way too long to launch the app and open a project. It spends nearly 40 seconds just loading and examining database plugins.
Edit: When the “Choose a Project” dialog does pop up, if I choose the “Templates” tab, it takes nearly 5 seconds just to bring up 2 templates that come with the IDE. When I get into the app, if I choose “New Project” from the File menu, it takes 10 seconds just to bring up the dialog again.
On a hunch I decided to start launching other apps and there were a couple that started exhibiting similar issues. I rebooted and Xojo is now starting up just fine. Not sure what’s going on, but appears to be an issue external to Xojo.
I’m not ready to call PEBCAK on myself (yet!), but if I discover something later I’ll follow-up here in case anyone else ends up running into the same issue maybe they will benefit from my experience. 
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I think this might merit some deeper investigation. When I’ve had issues like this, it has turned it to be issues with my Keychain, or in one notable case a failing logic board in my laptop.