This seems to be limited to Safari browsers and does not affect Chrome but when I try to do a cutout on Safari I get a serious lag while the tool is active.
Here's a loom with a demonstration: https://www.loom.com/share/64df103d70e44b099a118f68859be536
2025 Macbook Pro, M5 Pro Chipset, 64GB RAM running Tahoe 26.5.2
Edit: not a new problem, it's been around for at least two or three months. I just don't do many cutouts.