I was facing the same problem.
I tried deleted the cache folder, but that didn’t work.
What did the trick (and then some!) was changing the obsidian project file to [obsidianvault].temp, opening the vault, closing the vault, and renaming it back to the original. It’s been lagging for a few days, and now it’s fast as heck, once again.
Someone above mentioned they had moved around a lot of folders and files–I had done the same right before this issue came up. Sync was overloaded past the 10GB limit, and the whole thing was slowing down substantially. Glad to know this fix.
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