What have you done for trouble-shooting so far?
Restoring Preferences after making sure all customized presets like Actions, Patterns, Brushes etc. have been saved might be a good starting point:
What are your Performance Preferences settings?
I tried restoring preferences, but no change. As for Performance preferences, I had them on default, (memory usage; 70%, Cache; 4,) but also tired changing memory usage to (85%) and increased Cache Levels to 8. Unfortunately the problem persists. Any other suggestions I can try? Thanks for you time and efforts.
If you use a tablet can you try disconnecting it to see if it also afflicts the mouse or trackpad?