I have never had this issue before but when I try to load projects in Premiere now (including projects that were fine four days ago), the program crashes and has the spinning wheel of death or a clock icon that never goes away.

I restarted Premiere Pro and my computer 3x to no avail. This is causing a serious issue on a time sensitive project and does not appear to have any solution. I'm on a MacBook Pro 16" with OS Catalina and the latest version of Premiere Pro CC that updated about 10 days ago.