The spec you have described does not meet the minimum specs as per this page: https://www.playitsoftware.com/Products/Live/Specs
I would not expect PlayIt Live to run smoothly on low-end 11 year old hardware.
You can try disabling Loudness Analysis if you have switched this on. This is a very intensive task that runs in the background.
Had a couple of instances today where PIL freezes. can't be closed, Window can't be moved. Only way to close is via Task Manager.
One reproduceable bug:
Scrolling/scrubbing a track in the play log whilst it's playing out.. If audio is scrolled by click and holding whilst scrubbing the audio, PIL freezes completely after a few seconds. Clock on PIL freezes too, but the remaining audio in that item continues to play out.
Windows resource manager shows PIL still running but PIL UI is unresponsive.
Log files available if req. .
Win10 Home 21H2 64bit. Intel i3-2120 3GHz. 8GB RAM