I've also on a MacbookPro M1 Max running latest Monterey OS 12.3.1.
Affinity Photo 1.10.5 has been working perfectly for weeks - but today I've now got the spinning beachball during use of every tool. I've not changed any settings or upgraded any software - I'd not even rebooted the laptop - all I did was close Affinity and re-open it! I also get the problem after opening a photo before I start doing anything with it.
It is also doing it with sessions which previously worked OK - so can't blame the image I've opened.
This is extremely frustrating - has anyone come up with a working solution?