Severe game breaking lag in 1.17 experimental world when updated to 1.18

When I updated my world from 1.17 with the experimental toggle on to 1.18, I started getting lag so bad the game is unplayable. Projectiles are inconsistent, and blocks when mined will appear to break but no items will be dropped; after a few seconds the blocks will reappear in place. Running and jumping don't seem to be affected, but mobs are impossible to attack. I almost died yesterday during a raid, because the lag was so bad that when I was running around trying to hit the npcs, they weren't attacking me and I couldn't attack them. Then I started taking random damage while running around, due to the fact that the game is registering the attacks that are supposed to be happening, minutes later. I turned render distance down all the way, and turned all graphic toggles off... (fancy leaves, smooth lighting, clouds etc.) it did NOTHING to alleviate the issue.... Please fix. I love playing Minecraft on my Xbox one, and when I had the toggle on during 1.17, I never had these issues.