I'm reading the footage from a Sabrent 2TB SSD, some is proxy and some is master... I'll check everything!!
As Tom said, a beach ball for 10 sec when doing Reveal in Finder is not normal. That operation is a simple lookup --- it does not involve significant computation or I/O. On Mac Studio and maybe on M1 Max MacBook Pros there have been some reports of increased sensitivity to certain SSDs. Sometimes that might manifest as anomalous I/O hangs or slow I/O performance.
Make sure you are using the OEM short, thick USB-C cable and it's plugged directly into the Mac Studio, not a hub. Run Blackmagic Disk Speed Test on that drive and report the numbers. Run Disk Utility First Aid on that drive. Then rebuild the Spotlight indexes on that drive using this method: support.apple.com/en-us/HT201716
Edit/add: I just saw your last post, do the above on the problematic TB3 drive. If by chance that is a mechanical drive sometimes they can spin down due to the power saving feature and then incur a delay when the drive is "enumerated", meaning you are not doing I/O to it but the system checks what drives are connected.