Is your text layer a 3d layer? If so, are you using the standard or ray-traced renderer for your comp?
What typeface/font are you using?
I'm asking because I haven't had trouble with it on my Mac, so I'm trying to figure out what might be causing it.
What size screen(s) do you have connected to your Mac Pro?
Text is not in 3d. Comp setting is classic renderer. Any font has the issue. Same on my co workers system as well. Was very fluid and instant before upgrade when making a highlighted text selection in the comp window. Now it's lagging a good bit.
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This problem is not Mac specific a friend of mine had this same problem on a PC, the text doesn't need to have anything fancy on it just plain editing it's very slow.
try to isolate your problem: does this happen with a fresh clean project? or on a certain workflow scenario? you can still use 13.7.2 alongside your 13.8.1 (make sure it's 13.8.1 and not 13.8.0 while you're at it) - does the previous version work properly?
you can try to reset your preferences: Reset After Effects Preferences