Extreme Lag - Lost items to lag-induced suffocation death

Playing Minecraft Bedrock Edition version 1.18 with a cross-platform friend on a multiplayer survival world she had created.

I play on the PlayStation 5, she plays on the switch.

Lag has always been a thing present in the world but has gotten extreme after the 1.18 update.

I had gone to the Nether to collect soul sand and experienced some standard lag, being able to break blocks but not pick up any items.

Attempted to return to the Overworld with little success. Was repeatedly teleported between Nether and Overworld, eventually returning to the Overworld where I suddenly began suffocating in open air.

Crouched somewhat near a wall (not directly on it, I'd say approximately 4 blocks out from any wall) and proceeded to die. All things (including fully enchanted Netherite Armor Set/Tools😞) immediately despawned. A thorough check through the surrounding area, walls, blocks above walls, and Nether yielded no results.

I am quite frustrated with the lag spikes and would like to know what exactly has occurred with all of my items despawning and how I may combat this issue in the future (death prevention at signs of lag).      

Thank you,
Harrison Helms